Obamacare to Require All Rate Increases Be Reported

Monday, 04 Mar 2013 11:29 AM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
The Obama administration wants health insurance companies to report every price increase, no matter how small, to the federal government so it can measure how insurers are complying with the 2010 healthcare reform law, according to The New York Times.

The government now requires insurers to report rate increases of 10 percent or more. But new rules would require all increases to be reported, the Times reported.

Health and Human Services Secretary Kathleen Sebelius said the new law allows the government to identify patterns that could indicate market disruption.

Consumer advocates are welcoming the new requirements, which they say allow them to scrutinize rate increases. But insurers object, saying the government is creating a reporting system that duplicates what states already require.

The rule also will allow the government to track whether Obamacare drives up insurance costs, as insurers and employers predict. Obamacare guarantees coverage for all, regardless of pre-existing conditions, and prohibits insurers from charging more for women.

Since the system requires insurers to pool the claim costs of all customers when setting rates, federal officials say they need to know the prices of all insurance products so they can ensure companies are following the law.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Ben Carson: Americans 'Being Played' by Those Who Seek Division

Thursday, 17 Apr 2014 22:02 PM

Retired pediatric neurosurgeon Dr. Ben Carson said Thursday that Americans are "being played by those people who want to . . .

Pro-Russian Group Denies Producing Ukraine Jewish 'Registration' Leaflets

Thursday, 17 Apr 2014 15:07 PM

Ukrainian Jews leaving Passover eve prayers were handed leaflets ordering them to either register with an interim govern . . .

Bolton: Reports of anti-Jewish Leaflets Show Huge Trouble in Ukraine

Thursday, 17 Apr 2014 20:51 PM

Reports of anti-Jewish leaflets being handed out in the Donetsk province of Ukraine are a bad sign the struggle in the a . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved