From the Washington Post today:
Anthem Blue Cross withdraws big CA rate hike
LOS ANGELES — Insurance giant Anthem Blue Cross, the company criticized by President Barack Obama when it proposed raising rates for Californians by as much as 39 percent, withdrew plans for the proposed hike Thursday.
Los Angeles-based Anthem made the decision after an independent audit determined the company’s justification for raising premiums was based on flawed data, state Insurance Commissioner Steve Poizner said.
The decision also came one day after Anthem’s parent, Wellpoint, Inc. of Indianapolis, announced its first-quarter profit soared by 51 percent.