The Department of Health and Human Services has announced that health insurer Everence Insurance of Pennsylvania is charging small businesses unreasonably high premium increases, according to an HHS news release.
HHS conducted its first federal rate review under the Patient Protection and Affordable Care Act that looks at premium rate hikes of 10 percent or more. HHS found that Everence's 12-percent rate increase was excessive, and it has called on the insurer to rescind the rate, issue refunds to consumers or publicly explain their refusal to take action, according to the release.
Health insurers can reduce their rate increases or post a justification on their website within 10 days of the rate review decision.
HHS conducted its first federal rate review under the Patient Protection and Affordable Care Act that looks at premium rate hikes of 10 percent or more. HHS found that Everence's 12-percent rate increase was excessive, and it has called on the insurer to rescind the rate, issue refunds to consumers or publicly explain their refusal to take action, according to the release.
Health insurers can reduce their rate increases or post a justification on their website within 10 days of the rate review decision.
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