Massachusetts Rejects Excessive and Unreasonable Health Insurance Rate Hikes; Shows Need for Regulation to Fill Cost Control Void in Federal Health Reform

WASHINGTON, April 1 /PRNewswire-USNewswire/ — Consumer Watchdog said Massachusetts’ rejection today of excessive and unreasonable health insurance rate increases shows the need for effective “prior approval” rate regulation in every state to ensure that health insurers charge fair prices under national health reform legislation, which is modeled on Massachusetts’ mandatory health insurance law. Massachusetts regulators recently adopted emergency prior approval regulations in anticipation of large insurance premium increases.Regulators’ close look at the numbers behind proposed rate hikes revealed that, in the case of Massachusetts small businesses, increases could not be justified,” said Carmen Balber, Washington Director for Consumer Watchdog…..

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