WellPoint, other insurers spend $38M to keep insurance rates unregulated in California

Insurance companies have spent more than $38 million to defeat Proposition 45, which would give the California Insurance Commissioner the authority to regulate health insurance rates in the state, according to a Los Angeles Times report.

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Kaiser Permanente has contributed $14.6 million, the most of any insurer to defeating Prop. 45., while WellPoint, the second-largest contributor, has spent $12.5 million. In addition, independent blue plans in the state have spent $10 million on defeating Prop. 45. 

As the insurance commissioner would likely keep a cap on insurance rate increases in California, the insurers are willing to pay to overcome Consumer Watchdog and other groups that have paid approximately $664,000 in support of Prop. 45, according to the report.

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