InsuranceNewsNet: Aetna Latest Company to Scale Back Rate Hike Amid Regulatory Scrutiny

April 29, 2011–Aetna Inc. became the third major health insurer in California to announce that it would back away from proposed rate hikes for roughly 43,000 policyholders in the state, opting to raise rates by an average of 12.2% as opposed to the 17.9% increase the company originally announced. Aetna’s decision comes after the company agreed to postpone the implementation of the increase until July 1 at the request of California Insurance Commissioner Dave Jones.