ACA Facts: Annual Public Review of Premium Increases
December 18, 2012
Annual Public Review of Premium Increases
The ACA protects against unreasonable increases in premiums for health insurance coverage by requiring states to conduct an annual public review of premium increases. The Department of Health and Human Services granted $1 million to 45 states and the District of Columbia to improve their current system of reviewing health care insurance premium increases, take action against insurers seeking unreasonable rate hikes, and ensure consumers receive value for their premium dollars. (state-by-state activities) All 46 State grantees will require insurance companies to report more extensive information through a new, standardized process. This process will better evaluate proposed premium increases and increase transparency across the marketplace.
