In an attempt to revive its plan for a rate hike for several Californian policyholders, the struggling health insurer Anthem Blue Cross recently expressed its intentions of raising the premiums by 20 percent.

The Wednesday-submitted new rates, which are sharply lower than the earlier-this-year-sought 39 percent rate hike by the company - a proposal that was later cancelled after it enraged not only the customers, but also the lawmakers, and even President Obama.

The cancellation of the whopping 39 percent premium rates' proposal also resulted from the fact that an independent consultant for California's insurance commissioner found several errors in the proposed rate plan of the Woodland Hills insurer.

In fact, the failed 39 percent rate hike attempt by Anthem Blue Cross also apparently helped salvage the Obama administration's waning endeavors to pass landmark healthcare legislation.

However, to avoid another public backlash this time round, Anthem and its corporate parent - the Indianapolis-based WellPoint - are now seeking a maximum rate hike of 20 percent, with an average of 14 percent. The new rates will likely take effect from September 1.

Talking about the rate hike, WellPoint's chief strategy officer Brad Fluegel said: "The rates do not cover our costs and are not going to be sustainable over the long term, but it made sense to move ahead. Given the environment, it was in the best interest of everyone to get this behind us and move forward."