Calif. Anthem Blue Cross president Margolin resigns

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The Anthem Blue Cross headquarters is seen on February 9, 2010 in Woodland Hills, California.

The president of Anthem Blue Cross in California has resigned following an attempted massive rate increase that was scaled back after drawing public outrage.

Leslie Margolin, who led the state's largest for-profit insurer for more than two years, said Tuesday she will go into health care consulting.

In April, Anthem withdrew rate increases that averaged 25 percent - some as high as 39 percent - after public outrage and rebukes from President Barack Obama. The insurer now plans to raise premiums an average of 14 percent for individually insured policies, capping hikes at 20 percent.

Anthem Blue Cross' parent company Wellpoint thanked Margolin for her leadership.

Copyright 2010 The Associated Press.

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