News Headlines Article

Blue Shield of California relents, agrees to delay steep rate increases
San Francisco Business Times

Blue Shield of California’s chief executive officer, under pressure from the state Department of Insurance, angry individual policyholders and many advocacy groups, said Tuesday he will comply with Insurance Commissioner Dave Jones’ request that the company delay by 60 days rate increases slated to take effect March 1. Bruce Bodaken, the company’s chairman and CEO, released the Feb. 1 statement. “We want to be sure that the rates, which we filed in October, are reviewed to the commissioner’s satisfaction,” Bodaken said.