Search
 

HHS to Senate: Rejecting insurance rate hikes protects consumers

A U.S. Senate Health committee hearing examined the rapid pace of health insurance premium rate increases.

By Heather Trese | Updated on August 04, 2011

In a recent U.S. Senate Health committee hearing examining the rapid pace of health insurance premium increases, a federal regulator told senators that the rate review provisions of the federal health care law are a powerful consumer protection tool, but that the authority to reject unjustified rates provides consumers “maximum” protection.

Prior approval rate regulation requires insurance companies to open their books and justify the reasons behind a rate increase before it takes effect. State regulators have the power to reject or modify any rate increase that is excessive or unjustified.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2024 ALM Global, LLC. All Rights Reserved.