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Insurance rate increases addressed in House bill
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Mar. 26, 2010 12:11 am
DES MOINES – The Iowa House approved a bill early Friday morning meant to give consumers more information on health insurance rates.
Insurance companies would have to notify consumers at they time they apply for insurance rate increases in some cases and justify the proposed increase.
The Iowa Insurance Commissioner also would hold hearings on health insurance rate increase applications in some instances and solicit public comment.
An annual report from the insurance commissioner and consumer advocate would detail such data as rate increases, health care expenditures, ranking of factors that raise or lower costs in insurance plans, and financial information of health insurers.
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