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California OKs Anthem Rate Hike

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California OKs Anthem Rate Hike

Business

California OKs Anthem Rate Hike

California OKs Anthem Rate Hike

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A six-month battle in California over health insurance has come to an end. When health insurer Anthem Blue Cross announced rate hikes last March of up to 39 percent for individual policyholders, it made national news. The Obama Administration weighed in, and the state refused to approve the increase. After examining the company's accounting, California's insurance watchdog has approved a rate hike, though a smaller one.

LINDA WERTHEIMER, host:

A six-month battle in California over health insurance has come to an end. When health insurer Anthem Blue Cross announced rate hikes last March of up to 39 percent for individual policyholders, it made national news. The Obama administration weighed in, and the state refused to approve the increase. After examining the company's accounting to see what kind of increase was warranted, California's insurance watchdog yesterday approved a rate hike, though a smaller one. Now, nearly 800,000 Californians face a jump in their health-care premiums of just 14 percent, on average.

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