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Anthem rate hike excessive for 170,000, regulator says
Anthem rate hike excessive for 170,000, regulator says

California's insurance commissioner criticized healthcare giant Anthem Blue Cross for imposing an "excessive" rate increase on nearly 170,000 customers statewide. Dave Jones said Wednesday that Anthem had failed to justify its 9% average rate hike that took effect April 1. Premiums are going up as much as 25% for about 4,000 policyholders. "These rate hikes have real financial impact on Californians," Jones said. "It means less money for other essentials like food, clothing, housing and education."  But state officials have no power to stop health insurance rate increases that are deemed unreasonable. Jones lost his bid to change that last fall...

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