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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