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June 21, 2011 at 08:00 PM
Anthem Blue Cross has agreed to cut the quarterly premium increase for some group health products sold in California to 3%, from 6%, officials say.
Anthem Blue, a unit of WellPoint Inc., Indianapolis (NYSE:WLP), says the average quarterly rate increases will be halved for employers that have the Solution 2500 PPO, Solution 3500 PPO and Solution 5000 PPO plans, officials say.
The new, lower increases are set to take effect July 1.
The affected plans serve businesses with 2 to 50 employees.
The plans cover a total of about 18,000 people, officials say.
