California health insurer Anthem Blue Cross is withdrawing rate increases of as much as 39% for thousands of California policyholders after state insurance regulators rejected the proposals, officials announced Thursday.

California's largest for-profit insurance company will re-file its rates in May, company executives said, but would not say how big the increases will be or how soon they might be in place.

The rates affect an estimated 800,000 Californians who buy individual policies.

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