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Health officials ease requirements for states' insurance exchanges
The Obama administration moved Monday to ease some requirements on states to help them set up new insurance exchanges in 2014. In a nod to this resistance, the Obama administration proposed regulations that will give states wide latitude in deciding how to regulate insurance companies that sell plans in their exchanges.Under the new rules, some states may exercise relatively little control over the plans while others may place stringent requirements on insurers before allowing them to sell policies in the exchange, including controlling premiums.The administration also proposed Monday to give states more time to set up their exchanges before the federal government would step in to do the job.The new law requires the Department of Health and Human Services to operate an exchange in any state that does not create its own. Obama administration officials, as well as many insurers, would prefer that states run their own. Administration officials said Monday that those additional regulations would probably be completed later this year.
Source:Los Angeles Times