WellPoint's Anthem Blue Cross spurns Calif. small-business exchange
Health insurance giant Anthem Blue Cross said it won't participate in California's new insurance market for small businesses.
Anthem, a unit of WellPoint Inc., is California's largest insurer for small employers. This surprising move could hamper the state's ability to enroll businesses in its new exchange called Covered California that opens Jan. 1 as part of the federal healthcare law.
Instead, Anthem said it will keep selling coverage to small firms outside the exchange in direct competition with the state-run market. Anthem also remains one of 13 health insurers that will offer policies to individuals in Covered California.
Nonetheless, Anthem's decision stunned many observers.
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