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Court backs Maine rate on insurance

Wall Street Journal, April 23, 2010

A state court upheld a Maine official's decision to deny a profit margin for a WellPoint Inc. unit in a health-insurance rate request. Thomas E. Humphrey, chief justice of the Maine superior court, wrote that the approved 2009 rate for Anthem Blue Cross and Blue Shield's individual health-insurance product line met the state's legal standard and wasn't "inadequate," as the company argued in its challenge. Maine law requires that rates enable insurers to meet their obligations to policyholders, but doesn't entitle them to a "mandated profit margin," the decision said.