Tuesday, July 26, 2011

Federal auditors to review insurance rates in 10 states

According to an article in the New York Times, the Obama administration is scheduled to take over the review of health insurance rates in 10 states where it says state officials do not adequately regulate premiums for insurance sold to individuals or small businesses.

Several states acknowledged that they lacked the power to review health insurance rates. Several insurance commissioners tried and failed to get the authority they needed from their state legislatures this year.

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