In a letter to the Obama administration, WellPoint Inc. said the 39% hike reported by many of Anthem's individual policyholders and set to take effect March 1 represents "one of the largest increases and includes the impact of aging." The company said that rate changes, excluding the factor of age, would range from a 20.4% decrease to a 34.9% increase.
WellPoint said Anthem's profit margin in California was "in line with and below that" of competitors in the state. The parent company also said Anthem's individual business in California lost money in 2009 -- although it did not say how much -- partly because the weak economy prompted many customers to switch to lower-cost options.
http://www.latimes.com/business/la-fi-anthem12-2010feb12,0,3807841.story
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