11 Feb 2012

Regulating health insurance rates

11 Feb 2012

What if you knew the reason for the hike in your monthly premiums. Would a public announcement justifying the increase make it easier to pay?

The Los Angeles Times reports that US Sen. Dianne Feinstein “has come forward as the chief spokeswoman and No. 1 booster of a proposed initiative to regulate hikes in health premiums.” The law “would require health insurance companies to publicly justify their rates before rate hikes take effect.”

Tighter controls can be a very effective  tool when tackling high cost issues, but this specific initiative, granting officials rate approval authority, barely scratches the surface. Regulating future increases of already high premiums? What about a measure addressing healthcare’s overall affordability and accessibility?  Send Sen. Feinstein your thoughts on the proposed measure, and in the meantime if you have any questions about your health insurance costs, feel free to give us a call.

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