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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