SANTA MONICA, Calif., July 19, 2016 /PRNewswire-USNewswire/ -- Consumer Watchdog said the 13.2% rise in health insurancepremiums for 2017 announced by Covered California is the result of the state's failure to enact health insurance rate regulation like nearly 40 other states.
"These outrageous premium hikes are the consequence of California's
Consumer Watchdog said it would revive its proposal for force health insurance companies to justify rate hikes and get approval before rate hikes take effect.
Auto insurance companies have to justify their rate hikes in California before they are approved. The system, enacted under insurance reform Prop 103, has saved drivers more than $100 billion according to a 2013 report by the Consumer Federation of America. No such system yet exists for health insurance rates.
Visit our website at: http://www.ConsumerWatchdog.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/consumer-watchdog-lack-of-ca-rate-regulation-leads-to-double-digit-premium-increases-at-covered-california-300300898.html
SOURCE Consumer Watchdog
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