Give California insurance regulators authority to deny or roll back health insurance rate increase proposals that they deem excessive.
Why is this important?
Aetna just raised my individual health insurance policy 12 percent. Worse, according to the New York Times, "In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers’ filings with the state for 2013." Under current California law, our regulators can review rate requests only for technical errors but cannot deny rate increases. In other states, like New York, state regulators have denial authority and are already using it to curb these abuses.
