Friday, May 20, 2011

HHS to Insurers: Double-Digit Rate Hikes Will Prompt Review

The Department of Health and Human Services (HHS) has released a final rule that will allow states to scrutinize insurance companies if they propose excessive increases in insurance premiums.

The final rule, published Thursday, would give states the authority beginning in September to issue a review of any insurer that raises premiums for small or individual health insurance plans by more than 10% in a given year. The law does not, however, give states or the federal government the power to tell an insurance company that it can't enact a high rate hike.

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