California health insurance industry go head to head with regulators Aetna Life Insurance has raised the health insurance rates for small employers in the state of California this month. The company has plans to raise rates by an average of 8% for this sector each year. The plan has struck a chord with the state’s insurance regulators, with Insurance Commissioner Dave Jones accusing the company of being unreasonable. According to the state’s Department of Insurance, Aetna’s health insurance rates for small businesses will jump by more than 30% over the…
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California insurance bill addresses health premium rate hikes
Lawmakers in California are pushing a new bill that would grant the state’s insurance regulators the authority to either reject or approve rate increases imposed on health insurance policies. The issue of rate hikes is not a new one in California. Several months ago, some of the state’s biggest insurers proposed rate increases by as much as 40%. The debate raged until the insurers withdrew their proposals, but the turbulence left many legislators wondering where the decision making power for these issues should lie. The bill caused division within the…
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