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Health insurer Blue Shield of California wants to raise rates as much as 20% for some individual policyholders, prompting calls for the nonprofit to use some of its record-high reserve of $3.9 billion to hold down premiums. In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers, effective in March, with a maximum increase of 20%.
RALEIGH, N.C. — Blue Cross Blue Shield of North Carolina said Monday that it would refund $155.8 million to 215,000 policyholders because of the national health reform effort.
Brad Wilson, chief executive of Blue Cross, the state's largest insurer, said the refunds would be issued by the end of the year to people who had individual Blue Advantage or Blue Options HSA policies on March 23, the date when President Barack Obama signed the Patient Protection and Affordable Care Act of 2010 into law.