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California Blue Shield Drops Rate Hike, Says System is ‘Broken’
Becker's Hospital Review

Saying the individual health insurance market is “broken,” Blue Shield of California has abandoned a proposal to raise individual premiums by as much as 86.5 percent, according to Blue Shield release.

California regulators had asked Blue Shield to postpone the rate increase for 60 days so that an actuarial review could be performed. Although the review determined the rate proposal was not excessive, the company decided to drop the plan.