January 24, 2008
As everyone seems to be worried about he economy and how we will pay our bills, health insurance companies don't seem to have any worries.
If they need or want a rate increase, they raise the rates without explanation or regulation. We wonder why they don't have to make their case to the state insurance commissioner.
If Auto and home insurance companies want to change rates, they must show why they need the increase.
State Insurance Commissioner John Oxendine is pushing a bill through the state legislature right now they would force health insurance companies to prove they need the rate hike.
Certainly this is not the entire answer to controlling health care costs, but it is a step in the right direction.
Insurance companies like every other business need to make a profit, but they must also be accountable for the increase rate increases.
We call on the state legislators to hold then for accountable with House bill 93.