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Aetna withdraws Calif. health insurance rate hike after errors found by independent review
Los Angeles Times

Another health insurer has withdrawn a proposed rate hike after an independent review discovered errors in the complicated calculations the company used to justify boosting 65,000 policyholders’ rates by an average of 19 percent.

The review ordered by a California regulator discovered Aetna Inc.’s proposal incorrectly multiplied when converting the monthly premium into an annual one, and the rate increase was not compounded correctly.