Anthem Blue Cross Withdraws Request for Rate Hikes -
Friday, April 30, 2010
Source: The Associated Press
By JOHN ROGERS (AP)
LOS ANGELES — Insurance giant Anthem Blue Cross withdrew plans to raise health insurance rates for Californians by as much as 39 percent after an independent audit determined the company's justification for raising premiums was based on flawed data, state Insurance Commissioner Steve Poizner said Thursday.
Anthem said separately it will file a new application for a rate increase with the California Department of Insurance and the Department of Managed Health Care, perhaps as early as next month. It added that any errors in its original application were inadvertent.
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