California Blue Agrees to Rate Rule

Blue Shield of California says it will cooperate with California Insurance Dave Jones and delay rate increases scheduled for March 1 for at least 60 days.

"We want to be sure that the rates, which we filed in October, are reviewed to the commissioner's satisfaction," California Blue Shield Chairman Bruce Bodaken says in a statement. "We are taking this action to remove any doubt that the rates we have submitted are necessary to pay the medical expenses of our individual members and meet the new medical loss ratio standard."

The announcement was a response to Jones' recent call for California Blue Shield and 3 other large carriers to refrain from raising premiums for at least 60 days after the effective dates of their most recent rate filings.