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Anthem to lower insurance rate hikes
Sacramento Bee

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.

“This is good news for 600,000 policyholders,” State Insurance Commissioner Dave Jones said Monday, adding that the decision means consumers “can continue to afford coverage instead of having to give it up.”

Jones estimated Anthem Blue Cross ratepayers will save at least $40 million as a result of the Monday decision.