More and more states are finding ways to limit health insurance rate hikes. Oregon and California are the latest states to take action.
Oregon’s insurance division did not approve the rate hikes requested in half of the cases reviewed during the last 12 months. Instead, they approved lower than requested rates. The division reviews health plan rates for employers with 50 or fewer employees and individuals health insurance recipients. Read the whole story.
In California, lawmakers are considering a law to give them the same ability as Oregon’s insurance division. Currently, the California insurance commissioner can simply warn consumers if he feels an insurance company is requesting a rate increase that is excessive or unwarranted. Assembly Bill 52 would give the commissioner the ability to approve, modify or deny rate increases requested by health insurance companies. But the Ventura County Star says the bill faces an uncertain future. 35 other states currently have a similar law in place.