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WellPoint executive defends premiums

New York Times, February 25, 2010

Angela F. Braly, president of WellPoint, told a Congressional committee that higher premiums were justified by soaring medical costs, and warned that pending legislation could make the problem worse and further drive up costs for young, healthy people. Braly made the comments in testimony prepared for a hearing of the House Energy and Commerce Committee. President Obama and Democrats in Congress say the proposed rate increases show the need for federal review and regulation of insurance premiums, the New York Times reports.