Anthem Blue Cross and Blue Shield says it will seek new insurance rates rather than appeal a decision by state regulators rejecting its request for a nearly 20 percent increase, The Associated Press reports.
Anthem said that instead of a time-consuming appeal leading to uncertainty among its 48,000 members, it will submit a new rate request that would take effect April 1. A spokeswoman said Tuesday the insurer has not decided whether it will seek a smaller increase or what other rate details are.
The state Insurance Department rejected a rate increase request Dec. 3, saying Anthem’s request was excessive and that current rates are adequate.
At a public hearing in November, an Anthem representative told the Insurance Department that the insurer’s rate requests are in line with those of competitors.
