Blue Cross wins CalPERS contract
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WellPoint Inc. unit Blue Cross of California beat out UnitedHealth Group Inc. and Aetna Inc. to win a three-year medical insurance contract with the California Public Employees’ Retirement System.
The California pension fund buys health coverage for more than 1.2 million state workers, retirees and their families. The subsidiary of Indianapolis-based WellPoint has had the CalPERS contract since 1999.
CalPERS said it would spend $5.3 billion on health benefits next year, up from $4.9 billion this year.
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