State Regulators Reject 20% Rate Hike Request by Anthem

HARTFORD, Conn. (AP) _ Connecticut regulators have rejected Anthem Blue Cross and Blue Shield’s request for a 20 percent rate increase.

Acting Insurance Commissioner Barbara Spear signed an order Friday rejecting the health insurer’s proposed increase, calling it excessive.

Click here to read the full Insurance Department finding.

About 48,000 individual policy holders would have been affected by the rate increase, which Anthem says is necessary to cover escalating health care costs. Anthem has said its costs are growing by double digits and that the request is in line with its competitors.

Messages for an Anthem spokeswoman were not immediately returned Friday afternoon.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

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