Anthem Lowers California Rate Increase
by
A+ Insurance
The Los Angeles Times (2/15, Terhune) reports, "In response to pressure from California regulators, Anthem Blue Cross agreed to a slightly lower rate increase for about 630,000 individual policyholders that will save consumers an estimated $54 million." The average rate increase will now be around 14%, with some customers seeing their premiums increase by as much as 25%. Despite the increase in rates, Anthem "expects to lose money on its individual health insurance business in California this year, primarily because of rising medical costs."
