California insurers reduce, delay planned rate increases

For the second time this year, Anthem Blue Cross has agreed to cut its average increases for individual policy holders. WellPoint also has reduced its proposed increased and will delay co-pay and deductible increases until January 1, 2012.

Los Angeles Times: Anthem Blue Cross Reduces Rate Increases
California health insurer Anthem Blue Cross, scaling back rate increases for the second time in less than a year, has agreed to cut nearly in half average increases for more than 500,000 individual policyholders (Helfand, 3/21).

The Associated Press: Anthem Blue Cross Delays $40M Calif. Rate Hike
Anthem Blue Cross, the largest health plan in California, said Monday it will delay and reduce rate hikes that would have hit some 600,000 policyholders at an estimated cost of $40 million. Anthem is one of four major health insurers in the state who earlier agreed to put off premium increases for at least 60 days at the request of California Insurance Commissioner Dave Jones (3/21).

The Sacramento Bee: Anthem To Lower Health Insurance Rate Hikes
Anthem Blue Cross will lower its rate hikes planned for July and will hold off on increases to co-payments and deductibles until 2012, according to an agreement announced Monday by the state Department of Insurance (Smith, 3/22).

Reuters: WellPoint To Cut, Delay Premium Hike In California
Health insurer WellPoint Inc has reduced its proposed premium increase for individual policy holders in California and will delay co-pay and deductible increases until January 1, 2012. Dave Jones, California's Insurance Commissioner, said on Monday that WellPoint's Anthem Blue Cross unit has reduced its proposed rate increase to an average of 9.1 percent from a previous proposed average of 16.4 percent. The reduced rate hike will save about $40 million for about 600,000 individual and family policyholders in the state (Clarke, 3/21).

The Wall Street Journal: WellPoint To Cut California Rate Increases
WellPoint Inc. said it would raise premiums for individual policies in California by less than it had planned, after the insurance commissioner there pressured it and other health plans to delay new price increases (Johnson, 3/21).