California regulators have approved an average 13.5% rate increase for Anthem Blue Cross of California individual policyholders.
Anthem Blue Cross trims rate hike, wins state approval
Anthem Blue Cross originally submitted a plan to raise rates on about 800,000 customers by up to 39%, and an average of 25.4%, this spring. The Woodland Hills, Calif., insurer, a WellPoint subsidiary, withdrew that increase after an independent actuary found mathematical errors in the rate filing. The original rate increase drew national scorn and spurred congressional hearings.
The California Insurance Department said the change saved policyholders about $184 million in premium costs.
In a written statement, Anthem Blue Cross officials said that they are “pleased that the department has posed no objections to our individual rate filings, and we look forward to continuing to serve consumers in California.”
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