California health insurance rate regulation to save medical industry $23 million


A rate regulation for California health insurance that was implemented about two months ago has already managed to save doctors and other medical care and service providers approximately $23 million from excessive premiums for malpractice coverage. This regulation was put into place by the California Department of Insurance and has managed to decrease the premiums that these medical professionals must pay by eliminating unjustified amounts that were being added to their malpractice coverage costs. The regulation authority put the rule into place by using prior approval. That said, while it…

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California regulators are one step closer to more authority over the state’s insurance industry

California lawmakers have been inching closer to passing new legislation that would give the state’s insurance regulators the authority to reject changes to health insurance premiums. On Wednesday, the proposal passed an important test and earned approval from the Senate Health Committee. Earlier in the year, many Californian health insurers instituted steep rate hikes, much to the chagrin of Dave Jones, the state’s Insurance Commissioner. Jones led the protest against the insurers and petitioned each company to stymie its rate hikes. He has been adamant in the belief that if…

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