Oversight of health insurance premium rates, particularly the reviewing and evaluating of rate filings submitted by carriers, varied across states in the U.S. in 2010, according to a report by the Government Accountability Office.
When the Patient Protection and Affordable Care Act took effect, the Department of Human Services awarded grants to help states monitor their premium rates. The GAO surveyed all 50 states and the District of Columbia, and respondents from 38 states said all rate filings were reviewed before the premiums took effect.
Respondents from five states reported that more than 50 percent of the rate filings reviewed in 2010 were disapproved, withdrawn or resulted in lower rates than originally proposed, the report said. Nineteen states said that happened less than 10 percent of the time.
Additionally, two-thirds of respondents stated they have started to increase their ability to oversee premium rates in their states, such as hiring more staff or outside actuaries and improving information technology used to collect rate filing data.
Read the GAO report on state oversight of health insurance premiums (pdf).
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When the Patient Protection and Affordable Care Act took effect, the Department of Human Services awarded grants to help states monitor their premium rates. The GAO surveyed all 50 states and the District of Columbia, and respondents from 38 states said all rate filings were reviewed before the premiums took effect.
Respondents from five states reported that more than 50 percent of the rate filings reviewed in 2010 were disapproved, withdrawn or resulted in lower rates than originally proposed, the report said. Nineteen states said that happened less than 10 percent of the time.
Additionally, two-thirds of respondents stated they have started to increase their ability to oversee premium rates in their states, such as hiring more staff or outside actuaries and improving information technology used to collect rate filing data.
Read the GAO report on state oversight of health insurance premiums (pdf).
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