Medical News: States Begin Review of Insurance Premium Hikes – in Washington-Watch, Reform from MedPage Today

Medical News: States Begin Review of Insurance Premium Hikes – in Washington-Watch, Reform from MedPage Today.

“WASHINGTON — Health insurers who want to raise premiums by 10% or more will now be subject to state or federal review as well as public scrutiny.

Sept. 1 is the effective date for a provision in the Affordable Care Act (ACA) that gives states the authority 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. In addition, the insurance company will have to publicly report its premium increase plan on a Web site and justify why such a hike is needed.”

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