The Affordable Care Act (ACA) requires that insurers planning to significantly increase plan premiums submit their rates to either the state or federal government for review. The threshold for this requirement is 10%.
The rate review process is designed to improve insurer accountability and transparency. It ensures that experts evaluate whether the proposed rate increases are based on reasonable cost assumptions and solid evidence and gives consumers the chance to comment on proposed increases.
The ACA also requires that a summary of rate review justifications and results be accessible to the public in an easily understandable format. This site is designed to meet that mandate.
At Mother Jones:
Don’t Pay Attention to Obamacare Rate Increase Horror Stories
-By Kevin Drum
| Tue Jun. 2, 2015 2:24 PM EDT
….don’t pay too much attention to scare stories about gigantic increases in Obamacare premiums next year. Insurers that request increases of more than 10 percent are required to get clearance from state and federal regulators, which means that the only increase requests that are public right now are the ones over 10 percent.
“Trying to gauge the average premium hike from just the biggest increases is like measuring the average height of the public by looking at N.B.A. players,”
Representative Vicky Hartzler (r) via Twiitter:
Rep. Vicky Hartzler @RepHartzler
34 MO plans expect substantial hikes in 2016. Affordable Care Act continues to prove UNaffordable. [….] 8:39 AM – 2 Jun 2015
There was one response:
Steven Wood @swood40
@RepHartzler what is your plan? 8:44 AM – 2 Jun 2015
Uh, let’s guess. Repeal and then even higher rate increases?