US Says States Should Have Final Say On Insurance Rates

Law360, New York (August 2, 2011, 2:51 PM EDT) -- A U.S. official told a Senate panel Tuesday that states should have primary power to review insurance premium rate increases, the same day a government report revealed that some states conduct only cursory reviews of rate changes.

Although insurance premiums have continued to skyrocket, most states have set up effective procedures for reviewing rate increases with the help of federal funding, said Steve Larsen, director of the Center for Consumer Information and Insurance Oversight, which is part of the HHS' Centers for Medicare & Medicaid Services....
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