Consumer Watchdog filed a ballot initiative in California to make health insurance companies open their books to forcing them to justify, under penalty of perjury, their proposed rate changes before they take effect.
If enough signatures–504,760,to be exact–are collected by May 1, 2012, the initiative will be on the ballot next year, for the Nov. 6, 2012 election.
The initiative is titled The Insurance Rate Public Justification And Accountability Act.
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