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$1B in Premium Rate Increases Rejected in Rate Reviews



State and federal insurance premium rate reviews have resulted in the denial, withdrawal or modification of widespread health insurance rate increases in the individual and small group markets, the Department of Health and Human Services has announced.



2 comments on "$1B in Premium Rate Increases Rejected in Rate Reviews"
barium (9/12/2012 at 6:42 PM)

This is great! So, let's see...it would be like seeing prices rise at the pump and capping how much the gas station can charge, without addressing the cost of what he pays for gas from the truck. Let's not address the cost of care, just pummel insurers and if needed, make them take losses. Hello?
Jonathan L Lauer (9/12/2012 at 10:57 AM)

In the article, HHS Secretary Sebelius is quoted as saying, "the health insurance market is now 'working for consumers the way markets are supposed to work. Insurers are being forced to offer more competitive prices." On the contrary, if the insurance market really was "working for consumers", federal management of prices would not be necessary. Her comment makes it clear that she either does not understand the nature of free markets or does not want a free market. Genuine and comprehensive insurance market reforms could work, but we are moving in the opposite direction.