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Nine states witness insurance rate hike criticismPosted On Wed, March 28, 2012
The U.S. Department of Health and Human Services recently noted that healthcare rate hikes were too high in nine states.
This review was mandated by the Affordable Care Act, which allows the department to act as a watchdog for rising rates. Arizona, Idaho, Montana, Nebraska, Wisconsin, Louisiana, Missouri, Virginia and Wyoming were all noted to have rates that were too high. The department has utilized these reviews for several months now.
"Thanks to the Affordable Care Act consumers are no longer in the dark about their health insurance premiums," said Kathleen Sebelius, HHS secretary. "Now, insurance companies are required to justify rate increases of 10 percent or higher. It’s time for these companies to immediately rescind these unreasonable rate hikes, issue refunds to consumers or publicly explain their refusal to do so."
With rates continuing to rise, it could benefit current healthcare holders to look for other options. Comparing health insurance quotes online may be the best way to ensure that a person has the lowest health insurance rates possible.
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