Blue Shield Cancels Pending Hike
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<strong>Insurer Was Under Pressure To Moderate Stance</strong><br />
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Blue Shield of California had the numbers to support its third rate hike on its 194,000 individual policyholders in the past seven months, but apparently overwhelming public disapproval prompted the abrupt cancellation of the last increase this week.<br />
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The San Francisco-based insurer announced Wednesday it would back off the rate hike scheduled to go into effect on May 1, and would impose no further rate increases on its individual policyholders in 2011.<br />
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