California Assembly Passes Health Insurance Rate Regulation Bill 44-7

[Playinghardball]

Legislation To Rein In Health Insurance Premiums Could Save Californians Billions

SANTA MONICA, Calif., June 2, 2011 /PRNewswire-USNewswire/ -- With only seven lawmakers voting against the hotly contested measure, the California Assembly has passed AB 52 (Feuer), which would subject health insurance companies to the same kind of vigorous rate regulation currently in place for auto and homeowners insurance companies in California. Prior to the vote the entire Republican caucus walked off the floor of the Assembly, and the only Democrats who spoke against the bill, Assemblymen Calderon and Solorio, did not vote on the measure. At last count, 44 Democrats voted in support of the bill; six Republicans and one Democrat were the only lawmakers to vote with the insurance lobby opposing the bill. The remaining Assembly members abstained.

"Californians want health insurance companies to be reined in and regulated, and California lawmakers know that," said Consumer Watchdog's Executive Director Doug Heller. "Even the politicians siding with the insurance industry did not want to register a no vote that would make their constituents wonder why they voted against health insurance reform."

AB 52 would require insurance companies to get permission before implementing any hike and would allow state regulators to deny or modify rate changes determined to be excessive. The bill would enact rules similar to Proposition 103, which requires the Insurance Commissioner to regulate auto and other property/casualty insurance rates. Under those rules California motorists have saved more than $62 billion on their auto coverage over the past two decades, according to a 2008 report by the Consumer Federation of America.

More at: http://news.yahoo.com/s/usnw/20110602/pl_usnw/DC13407_1

[demosincebirth]

1. Lets pass it and on to the Gov. desk!

[Maine_Nurse]

2. Probably useless anyways. We have a similar law...

and our health insurance rates are insane. If you have to buy it yourself, look for $1200 per month and up for a policy with a minimum $10k deductible. Group rates are insane too, but at least the coverage is better with far lower deductibles.

[texshelters]

3. California cost Connecticut tens of jobs

by asking for reasonable insurance rates.

Communists!

Peace,
Tex Shelters