The goal of S.152, which is headed to the Senate floor later this week, is simple: give you the heads-up when your health insurance company wants to raise your premiums. The bill, which earned approval from the Senate Appropriations committee on March 22, will make the process of reviewing proposed rate hikes both simpler and more transparent.
Currently, huge rate increases, such as Blue Cross Blue Shield’s currently proposed 24.4% rate increase on Catamount customers are subject to relatively no consumer input (to learn more about and submit comments on this rate increase, click here).
A consumer notification system will help individuals and small businesses better anticipate cost increases, and make it easier for them to have a voice in the process before these rates go in to effect.
For more information on the specifics of the bill, click here.