WellPoint leads opposition to Calif. rate regulation


WellPoint and other California insurers have donated $13.4 million toward defeating a ballot initiative that would authorize California regulators to reject increases in premiums, Bloomberg reported. WellPoint provided $12.5 million, while its California unit, Anthem Blue Cross, gave $270,000, according to data provided by MapLight, a nonpartisan research organization. Meanwhile, Kaiser Foundation Health Plan donated $270,000, Blue Shield of California contributed $180,000 and Health Net gave $135,000. "It is unusual to have such substantial donations this early in the election process," MapLight President Daniel Newman told Bloomberg. "It shows what's at stake financially for those insurers and also what's at stake financially for health insurance consumers." The initiative, which voters will decide on in November, would require insurers to publicly disclose and justify proposed changes to premium rates. The California insurance commissioner could then reject any unnecessary increases. Article