News Headlines Article

Blue Shield backs off on rate hike
Central Valley Business Times

Blue Shield of California says it will freeze rates until next year for any individual or family plan member, canceling a hike that would have raised some policyholders’ premiums as much as 86.5 percent. The health plan has about 340,000 individual and family plan members in California. “By agreeing not to raise rates this year, we are helping to make coverage more affordable for our members during tough economic times,” says Blue Shield of California Chairman and CEO Bruce Bodaken. “It’s a financial risk for us, but a risk that’s worth taking.”