WASHINGTON — The Obama administration said on Tuesday that it would require health insurance companies to disclose and justify any increases of 10 percent or more in the premiums they charge next year.
State or federal officials will review the increases to determine if they are unreasonable, the administration said in proposing regulations to enforce the requirement.
Kathleen Sebelius, the secretary of Health and Human Services, said the review of premiums would “help rein in the kind of excessive and unreasonable rate increases that have made insurance unaffordable for so many families.”
The new health care law, signed in March by President Obama, calls for the annual review of “unreasonable increases in premiums for health insurance coverage.” The law did not define unreasonable.
Full Story: U.S. Proposes Rules on Raising Insurance Premiums – NYTimes.com