Health insurance hikes to be scrutinized

[babylonsister]

Health insurance hikes to be scrutinized
By Jason Millman - 12/21/10 09:26 AM ET


Health insurance hikes greater than 10 percent will be scrutinized by the states and the federal government under a proposed regulation released Tuesday morning.

The highly anticipated regulation defines what are “unreasonable” health insurance premiums under the healthcare reform law, which gives the federal government greater oversight of health insurance premium increases. The provision does not give the federal government the power to block an unreasonable increase.

Insurers facing scrutiny also must post their justifications for the increases on their websites and on HealthCare.gov.

Under the proposal, states with review systems already in place would be required to review any rate increases above 10 percent in the individual or small-group market beginning in 2011. After 2011, state-specific thresholds based on cost trends will be used to determine which rate increases must be reviewed. The rate review proposal does not include the large-group market.

"We made the determination that this year, as a start year and a year to collect more data, we would start somewhere, and 10 percent was chosen not as the definition of unreasonable, but the definition of the enhanced scrutiny that should be applied," said Health and Human Services (HHS) Secretary Kathleen Sebelius.

more...

http://thehill.com/blogs/healthwatch/health-reform-implementation/134619-feds-issue-proposal-to-review-insurance-hikes

[Kdillard]

1. Good news.

[spin]

2. Great than 10 PERCENT ...

I thought the idea of heathcare reform was to reduce prices. We already have the most expensive healthcare in the world and we co not cover everybody.

http://www.visualeconomics.com/healthcare-costs-around-the-world_2010-03-01/

[Kennah]

3. Many will weasel around anyway

My health insurance dropped prescription drug coverage, but has dangled the option of upgrading to a more expensive plan that includes prescription drug coverage. I've been attempting to suppress the urge to vomit, swear, or both simultaneously long enough to call and find out just how expensive the upgrade would be.

Application Process
Step #1: Remove my clothes
Step #2: Grasp my ankles