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Anthem Blue Cross withdraws request for rate hikes
Los Angeles Times

California health insurer Anthem Blue Cross canceled rate hikes of as much as 39% for thousands of California policyholders Thursday after state regulators said the plan was “seriously flawed.”

The move came after a consultant to state regulators found that Anthem overstated future medical costs used to justify increases averaging 25% for many of the company’s 800,000 customers with individual policies. Correcting the flaws could drop the rate hikes to an average of 15%, the outside analyst said in a report.

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