Anthem backs away from California rate hikes

Anthem Blue Cross announced today that it will not impose its plans for dramatic rate increases on thousands of Californians who buy health insurance on their own.

The announcement was first reported by the Sacramento Bee.

The proposed rate hike created an outpouring of controversy when announced earlier this year. Anthem officials were also called before state legislators to justify the proposed rate hikes - some as much as 39 percent in some cases.