News Headlines Article

Insurer to Forgo Rate Rise
New York Times

Blue Shield of California, a nonprofit insurer, on Wednesday withdrew its request to seek higher rates this year for individual policies amid stiff criticism from regulators and consumers. Some people would have experienced rate increases as high as 87 percent if Blue Shield had gone ahead with all of its planned increases. Blue Shield’s retreat echoed moves last year by WellPoint, the large commercial insurer whose proposed premium increases were met with stiff resistance that spread across the country and even evoked denunciations from President Obama.