A new law that will expand the authority of the Pennsylvania Department of Insurance has taken effect this week. The law was introduced last year and won approval from the state’s legislators. Governor Tom Corbett signed the bill, Act 134, into law late last year, with an enactment date of March 21, 2012. The law is nearly identical to similar legislation in California that gave regulators more authority over rate proposals coming from insurance companies. Legislators believe that new authority granted to the Department of Insurance will help protect consumers…
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New legislation in Pennsylvania could give the state’s Insurance Commissioner new power
Pennsylvania’s Insurance Commissioner may soon be getting more authority to influence the terms of health insurance policies as a new bill gains approval from the state’s Senate Banking and Insurance Committee. The bill would allow the commissioner to extend terms of contracts formed between Highmark Inc., one of the state’s largest insurance companies, and UPMC, a health care provider. The Commissioner would also gain the power to affect policies coming from Highmark, requiring the insurer to make changes if necessary. Both Highmark and UPMC have been unable to reach an…
Read MorePennsylvania insurance bill has consumer advocates on edge
A new bill passed in Pennsylvania has consumer advocacy groups a little worried about the state’s future health insurance program. The bill in question was passed by the state Senate on Wednesday requires all health insurers in the state to submit their rate proposals to regulators for review if they are seeking increases of 10% or higher. While legislators claim that more regulations will help ensure insurance companies do not enact excessive rate increased, consumer advocacy group Pennsylvania Health Access Network, says that the bill compromises the protections of small…
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