Stop health insurance industry price gouging (ACTION EXPIRED)
Excessive health insurance rate increases place health insurance out of the reach of millions of families.
Health insurance premiums are soaring above the rate of inflation. Businesses are finding it difficult to pay for these rate hikes, and pass the increased costs on to workers. Rates for individual coverage have put health insurance beyond the reach of 8.2 million Californians.
Assembly Bill 52 (Feuer) would require an HMO or health insurer to submit a proposed insurance rate increase to the Department of Managed Health Care (DMHC) or the Department of Insurance. State regulators could disapprove increases in premiums, co-payments or deductibles that are not justified.
California has successfully regulated homeowners and auto insurance rates for two decades, saving motorists $62 billion.
Over 30 other states across the nation have successfully given their insurance commissioners the authority to reject excessive health insurance rate hikes. It is time we do the same here in California.
Micheal Hiltzak of the Los Angeles Times recently wrote about the scare tactics insurance companies are using to protect their exorbitant profits.
Help us control skyrocketing health insurance rates. Please tell your state legislators to vote Yes on AB 52.