Insurers in nine states, that is Arizona, Idaho, Louisiana, Missouri, Montana, Nebraska, Virginia, Wisconsin, and Wyoming have asked for rate increases as high as 24 percent. These rate hikes would affect over 40,000 residents across these nine states. The hikes were reviewed by independent experts to determine whether they are reasonable and the HHS (Health and Human Services) deemed it “unreasonable” under the rate review authority granted by the Affordable Care Act in a statement released on March 22.
“Thanks to the Affordable Care Act consumers are no longer in the dark about their health insurance premiums,” said HHS Secretary Sebelius in a statement. “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.”
To read the report, visit http://www.hhs.gov/news/press/2012pres/03/20120322a.html.
