WellPoint Unit Denied Profits On Health Plan Rates

Law360, New York (April 22, 2010, 7:13 PM EDT) -- A Maine judge has upheld a state insurance regulator’s decision to deny an affiliate of health insurer WellPoint Inc. the opportunity to collect a profit margin as part of its calculations for 2009 rates for certain individual health plans, holding the insurer to much lower rate increases than it had requested.

Maine Superior Court Judge Thomas E. Humphrey issued a ruling Wednesday affirming the state superintendent of insurance’s order approving rate increases averaging 10.9 percent among certain health plans of the WellPoint affiliate that does business...
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