Just as some states are passing bills giving regulators more control over rising health insurance rates, other states have decided to turn away federal money aimed at helping them do just that. The U.S. Department of Health and Human Services offered each state $1 million to set up or improve processes for reviewing health insurance premium increases. Some states have elected to use the money to take action against insurance companies seeking rate increases deemed to be excessive.
45 states accepted the money, but 5 declined to apply. They include Alaska, Georgia, Iowa, Minnesota, and Wyoming. In addition, Florida, Idaho and Oklahoma originally received the grants, but then returned the money after a change in administration. According to A.M. Best, roughly $200 million in Health Insurance Premium Review Grants has yet to be allocated.