Who in the government is going to put the brakes on Obamacare’s
Unreasonable Insurance Rate
Learn about…
New Consumer Protections Under the Affordable
Care Act
Putting the Brakes on Unreasonable Health
Insurance Rate Increases
A new Rate Review program requires that when an insurer proposes to increase your insurance rate by 10% or more, this increase must be disclosed and justified to the public and thoroughly reviewed by State
or Federal regulators. the Federal government will conduct the review. The review findings will be made public on www.HealthCare.gov for all reviews.
i looked but could not find the info they say is on the website i guess its just another glitch.
no need to read on it’s all gov BS from here
Read more below and at www.healthcare.gov
How does the “Rate Review”
program discourage unreasonable
rate increases?
The Rate Review program discourages
rate hikes by ensuring that proposed
increases of 10% or more get close
scrutiny from the public and State or
Federal regulators. Starting on
September 1, 2011, if your insurer
proposes a rate hike of this size, it must
give your State insurance regulator and
the Federal government:
• Advance notice of the proposed
rate;
• An explanation of why it believes
the rate hike is necessary; and
• Additional information about its
business, such as:
o The number and size of
benefit claims it has paid;
o Its history of premium
increases; and
o Its projected medical and
administrative costs.
You’ll be able to review this information
on your State insurance regulator’s
public website and on
www.HealthCare.gov, a public website
for consumers. You’ll also have an
opportunity to
Does the Rate Review program apply
to my health insurance policy?
The law applies to all health insurers
who sell policies to individuals and small
businesses, but not to large employer
group plans and “self-insured plans.”
Also, if your health insurance policy or
plan existed on March 23, 2010, it may
be considered a “grandfathered health
plan.” Grandfathered health plans are
exempt from the Rate Review
requirements.
Consumer Tip: If you’re not sure
whether the Rate Review program
applies to your health insurance plan,
you can check with your employer or
insurer. Your State may also have a
Consumer Assistance Program that can
help. Find out more at
www.HealthCare.gov/consumerhelp.
What size rate increase requires
review?
For rate increases proposed on or after
September 1, 2011, States (or, in some
cases, the Federal government) will
review average rate increases of 10% or
higher to see if they are unreasonable.
An average 10 % increase means that
some enrollees may experience rate
increases higher or lower than 10%.
Starting September 1, 2012, the 10%
threshold may change for some States,
based on State trends in health
insurance premiums and health care
costs. Many states review all proposed
increases, regardless of the size.
Who reviews the proposed rate
increase?
States conduct the reviews, if their
review process meets national
standards for effectiveness. If a State
lacks the resources or authority to do an
effective review, the Federal
government will conduct the review.
The review findings will be made public
on www.HealthCare.gov for all reviews.
You can find out whether your state is
conducting the reviews or the federal
government on HealthCare.gov.
What makes a rate increase
“unreasonable”?
A Rate Review program could find that a
premium hike is unreasonable if, for
example, the premium hike:
• Makes the health benefits a poor
value for the money;
• Is based on faulty assumptions or
incomplete information; or
• Charges different prices to
people who pose similar cost
risks to the insurer.
What happens if the rate increase is
found to be unreasonable?
The Federal government will post that
finding on HealthCare.gov.
If your insurer decides to increase rates
that are found to be unreasonable, it
must post both its explanation for the
rate increase and the findings of the
Rate Review program on its website for
three years. The Federal government