The National Assn. of Insurance Commissioners issued a letter last week to House Speaker Pelosi and Senate Majority Leader Reid expressing certain concerns about healthcare reform. Here’s what NAIC had to say about provisions that would give federal regulators authority over health plan premiums:
Granting a federal regulator the authority to approve or deny premiums, or exclude plans from the Exchange if it disapproves of a premium increase, interferes with states’ financial oversight of insurers and could expose a plan to insolvency, straining state guarantee funds and creating anxiety among healthcare consumers. A better way to ensure appropriate regulatory oversight over rates is to build that oversight into the federal minimum standards that states must meet so that financial regulation and rate regulation operate together.
Which brings us to today’s poll question:
Subscribe in RSS Reader
The correct answer is that neither State or Federal government regulators have any idea on how to set insurance rates. When they do they invariably screw it up.