California state insurance regulators is reported to have granted Anthem Blue Cross, state's largest for-profit insurer, its nod over hiking rates for individual health insurance policies by an average 14%. However, initially the Company's original rate hike request was claimed to be erroneous and was consequently cancelled.

The Company has outlined that it seeks to land the new rate regime into force by effect Oct. 1. The rise is reported to lie in the bracket of 14% to 20% and would be imposed on 800,000 individual California policyholders.

In addition, the insurance regulators have also approved Blue Shield of California’s plan to enforce its rate hikes. The Company seeks to hike the rates on an average 19% to as high as 29%. The Company bears a 250,000 individual policyholders web.

"Anthem is pleased that the Department has posed no objections to our Individual rate filings and we look forward to continuing to serve consumers in California”, outlined Kristin Binns, a Spokeswoman for Anthem's Indianapolis-based corporate parent, WellPoint Inc.

A delay of over six months has been at a benefit to the policyholders and is estimated to have saved their $184 million. However, Anthem, has estimated the figure to stand at no more than $150 million.