 Image: woody1778a under CC 3.0 |
Over the past several years, Illinois health insurance rates have risen significantly. Like many other states, their insurance department has been overburdened and unable to investigate premium increases.
States have been criticized for rubber-stamping health insurers’ requests in the past. Illinois is looking for a $1 million federal grant from the healthcare reform law to analyze and collect information about health insurance premiums in the state. Their intention is to better determine which would be considered reasonable, and which should be deemed unconscionable–higher than both the medical inflation rate and national averages.
If the state’s application is approved, they’ll receive the funding next month.
Tags: department of insurance, health insurance, health insurance premiums, health insurance rates, healthcare reform, illinois health insurance
