2011 IFP Rate Update – Blue Shield Life Withdraws Individual Rate Increase

SAN FRANCISCO, CA — Blue Shield of California (BSC) has withdrawn its rate filing with the California Department of Insurance and the company will not increase rates to any individual or family plan member for the remainder of the year, announced BSC chairman and CEO Bruce Bodaken today. The not-for-profit health plan has 340,000 individual and family plan members in California.
“Our not-for-profit mission is to provide Californians with access to quality health care at an affordable price,” said Bodaken. “As long-time advocates for universal healthcare coverage, we are also deeply committed to the success of health reform. The best way to fulfill our mission and make reform work is to keep costs down. By agreeing not to raise rates this year, we are helping to make coverage more affordable for our members during tough economic times. It’s a financial risk for us, but a risk that’s worth taking.”

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