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State: Anthem Blue Cross rates for small business ‘unreasonable’
Los Angeles Times

California’s insurance commissioner said an 11% rate increase for small businesses by Anthem Blue Cross is “unreasonable” because the company overstated its costs and improperly added fees related to the federal healthcare law.

Insurance Commissioner Dave Jones also said Anthem, a unit of industry giant WellPoint Inc., was reaping excessive profits in California. But under state law the commissioner has no authority to block the rate increase from taking effect this month.