KCAL Insurance Agency
Phone: (800) 681-8288 E-mail: info@kcal.net
Federal Auditors Will Soon Review Health Insurance Rates in 10 States
The Obama administration will soon take over the review of health insurance rates in 10 states because state officials do not adequately regulate premiums for insurance sold to individuals or small businesses. Starting Sept. 1, federal and state officials will begin to scrutinize proposed rate increases of more than 10 percent to determine if they are justified. Seven states including Alabama, Arizona, Idaho, Louisiana, Missouri, Montana and Wyoming do not have effective rate review programs for either individual or small-group health insurance, so federal officials will do the reviews in both markets, the administration said.In three other states including Iowa, Pennsylvania and Virginia ,the federal government will review proposed rate increases for small groups and will allow states to review individual rates.
Source:New York Times