Anthem To Refund $20M To End Rate Hike Probe

Law360, New York (September 17, 2010, 4:46 PM EDT) -- Anthem Blue Cross Blue Shield has agreed to pay $20 million to policyholders in Colorado to resolve complaints that the insurer unfairly raised health insurance rates three times in a 13-month period.

The settlement, announced Thursday by the Colorado Division of Insurance, will cover approximately 90,000 consumers who held eligible policies between Jan. 1 and Sept. 30. The current rates, established Jan. 1, will not be cut as a result of the deal, the agency said.

Anthem increased its rates in Colorado on Jan 1, 2009,...
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