"By agreeing not to raise rates this year, we are helping to make coverage more affordable for our members during tough economic times," Bodaken said. "It's a financial risk for us, but a risk that's worth taking."
Blue Shield of Calif. cancels proposed rate hike →
"Everyone is going to have to do the kind of soul searching we've done over the past year to make this decision," he said.
Blue Shield of California pledges profit cap →