Starting Thursday, state and federal regulators will review double-digit rate increase proposals from health insurers to determine whether the premium hike is reasonable.
The rate review program, enacted under the Affordable Care Act, requires health insurers to submit a written request for a rate increase of 10 percent or more to independent reviewers. The Centers for Medicare and Medicaid Services (CMS) will review rates in nine states that lack the authority to adequately review rates. The remaining 41 states will conduct their own reviews.
Experts who examine rates will look for "underlying cost trends in health care to flag instances when insurance companies are unjustly raising costs."
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