Government eyeballs health insurance industry rate increases

Rising health insurance rates have become a major issue in the U.S. For months, legislators from several states have been struggling with insurance companies in an effort to lower rates and stop steep rate hikes. Insurers argue that they must raise their rates – some going so far as to raise their rates by 40% — in order to stay competitive in the market. The soaring cost of medical procedures and care is one of the major contributors to rate increases, according to insurers. The issue has gotten the attention…

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