MONTGOMERY, Ala. (AP) — U.S. Department of Health and Human Services Secretary Kathleen Sebelius says proposed increases in health insurance premiums for customers in five states have been deemed "unreasonable" by the agency.
Federal officials said in a statement Thursday they've determined that Trustmark Life Insurance Co. proposed unreasonable rate increases in five states — Alabama, Arizona, Pennsylvania, Virginia, and Wyoming.
Officials say they made the determinations by using the "rate review" authority from the Affordable Care Act to gauge whether the premium increases are reasonable. Sebelius said that under the 2010 health care law, insurance firms are required to disclose rate increases over 10 percent and justify them.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
- Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
- Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
