By Alex Veiga ASSOCIATED PRESS LOS ANGELES – The state's insurance commissioner gave his blessing Tuesday to a $16.4 billion merger that would create the nation's largest health insurance company after saying he had wrung hundreds of millions of dollars out of the companies involved that would be used to improve health care for all Californians.

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Insurance Commissioner John Garamendi had blocked the proposed merger between Anthem and WellPoint California subsidiary Blue Cross Life & Health Insurance Co. for months, complaining that it would pull $400 million a year out of California in the form of dividends that would go to Indiana-based Anthem and that the buyout package it offered WellPoint's chief executive was excessive.

"Last week Anthem and WellPoint returned to my office and presented a revised offer of settlement. I demanded more and after long negotiations, Anthem has made additional concessions and contributions that will assure that California health care consumers will realize benefits from this transaction," Garamendi told reporters Tuesday morning.

"With these additional concessions and commitments by Anthem and WellPoint I am today announcing that I will approve Anthem's application and will allow a change in control of Blue Cross Life & Health Insurance Co.," Garamendi added.
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