August 25, 2010, 1:39 pm - Los Angeles Times
California insurance regulators
cleared the way Wednesday for Anthem Blue Cross to implement scaled-back rate hikes after a previous rate
increase was canceled amid an uproar over its size.
Anthem said it
intends to put the new rates – averaging 14% and as high as 20% -- into effect
Oct. 1 for nearly 800,000 individual California policyholders.
The Woodland Hills company backed off
its initial plan to increase premiums in March as much as 39% after consumers,
regulators, lawmakers and even President Obama criticized it. Insurance
regulators say the six-month delay saved policyholders $180 million. Anthem is
the statefs largest for-profit insurer.
-- Duke Helfand