Health News
Illinois consumers want more control, stronger protections, and greater transparency in the insurance process. Rate review provides just that. It means that insurance companies will now have to prove the need to charge their customers more, and will not be allowed to do so unless they meet strict criteria.
Insurance companies will have to justify their requests for rate increases to the state Department of Insurance, and they cannot raise your rates unless their request is found to be reasonable and justifiable. The state Department of Insurance will act as a watchdog to ensure that rate increases are fair, needed, and enacted in accordance with the rules. That is strong protection for insurance consumers in Illinois.
The process is fair for both insurance companies and insurance consumers. Rates cannot be raised unless the review says they can, but insurance companies whose increases are denied, or consumers who disagree with a decision to allow rate increases, will have the opportunity to appeal the decision.
With more information about the rationale for rate hikes, consumers will be better prepared to make an informed decision about whether or not to purchase insurance from a specific company. This will stimulate positive competition in the health insurance marketplace, and benefit consumers by lowering costs.
Without rate review, health insurance premiums in Illinois rose 73% from 2000-2007. The rate review process will slow down sudden exorbitant cost increases for insurance, allowing all health insurance consumers including working families and small business owners the ability to obtain quality, affordable insurance for themselves and their families.
Health care reform is the key to economic security and opportunity for American families. Rate review is just one of the ways we will make the system more fair for everyone.
- Feds Give Ky. $3 Million To Hold Health Insurers Accountable
Kentucky will receive more than $3.2 million in federal grants to help state officials track health-insurance premium increases and make insurers more accountable. The funds are part of guidelines set forth in the Patient Protection and Affordable Care...
- States Taking The Lead In Strengthening Consumer Protection
Recently, five more States strengthened their laws protecting consumers in disputes with their health insurance plans. The District of Columbia, Massachusetts, New Hampshire, Ohio and Wisconsin have bolstered their laws surrounding the part of the appeals...
- Making The Grade: A Scorecard For State Health Insurance Exchanges
According to the Illinois Department of Insurance, health insurance premiums have risen on average 181 percent since 2005. This could be the week action is taken in Illinois to fix our health insurance marketplace for Illinois families and small businesses....
- States Take Steps To Improve Oversight And Consumer Engagement
In the past few months, several states have taken dramatic steps to strengthen their rate review authority, protect consumers, and call out insurers on excessive rate increases. For example, earlier this year, California health insurers announced planned...
- Effective Exchange Key To Lower Health Insurance Costs For Illinois Families
It?s hard not to notice the out-of-control health insurance cost increases in recent years. Three out of every four individual-market policyholders saw a premium increase from early 2009 to early 2010. Small businesses are particularly hard hit....
Health News
Rate Review YES!
Illinois consumers want more control, stronger protections, and greater transparency in the insurance process. Rate review provides just that. It means that insurance companies will now have to prove the need to charge their customers more, and will not be allowed to do so unless they meet strict criteria.
Insurance companies will have to justify their requests for rate increases to the state Department of Insurance, and they cannot raise your rates unless their request is found to be reasonable and justifiable. The state Department of Insurance will act as a watchdog to ensure that rate increases are fair, needed, and enacted in accordance with the rules. That is strong protection for insurance consumers in Illinois.
The process is fair for both insurance companies and insurance consumers. Rates cannot be raised unless the review says they can, but insurance companies whose increases are denied, or consumers who disagree with a decision to allow rate increases, will have the opportunity to appeal the decision.
With more information about the rationale for rate hikes, consumers will be better prepared to make an informed decision about whether or not to purchase insurance from a specific company. This will stimulate positive competition in the health insurance marketplace, and benefit consumers by lowering costs.
Without rate review, health insurance premiums in Illinois rose 73% from 2000-2007. The rate review process will slow down sudden exorbitant cost increases for insurance, allowing all health insurance consumers including working families and small business owners the ability to obtain quality, affordable insurance for themselves and their families.
Health care reform is the key to economic security and opportunity for American families. Rate review is just one of the ways we will make the system more fair for everyone.
-- Jim Duffett, Campaign for Better Health Care
- Feds Give Ky. $3 Million To Hold Health Insurers Accountable
Kentucky will receive more than $3.2 million in federal grants to help state officials track health-insurance premium increases and make insurers more accountable. The funds are part of guidelines set forth in the Patient Protection and Affordable Care...
- States Taking The Lead In Strengthening Consumer Protection
Recently, five more States strengthened their laws protecting consumers in disputes with their health insurance plans. The District of Columbia, Massachusetts, New Hampshire, Ohio and Wisconsin have bolstered their laws surrounding the part of the appeals...
- Making The Grade: A Scorecard For State Health Insurance Exchanges
According to the Illinois Department of Insurance, health insurance premiums have risen on average 181 percent since 2005. This could be the week action is taken in Illinois to fix our health insurance marketplace for Illinois families and small businesses....
- States Take Steps To Improve Oversight And Consumer Engagement
In the past few months, several states have taken dramatic steps to strengthen their rate review authority, protect consumers, and call out insurers on excessive rate increases. For example, earlier this year, California health insurers announced planned...
- Effective Exchange Key To Lower Health Insurance Costs For Illinois Families
It?s hard not to notice the out-of-control health insurance cost increases in recent years. Three out of every four individual-market policyholders saw a premium increase from early 2009 to early 2010. Small businesses are particularly hard hit....