California Proposition 45, the Public Notice Required for Insurance Company Rates Initiative

California Proposition 45, the Public Notice Required for Insurance Company Rates Initiative, is on the November 4, 2014 ballot in California as an initiated state statute. This initiative “requires Insurance Commissioner’s approval before health insurer can change its rates or anything else affecting the charges associated with health insurance, provides for publicnotice, disclosure, and hearing, and subsequent judicial review, and exempts employer large group health plans."

If approved by voters, the initiative would:

Require changes to health insurance rates, or anything else affecting the charges associated with health insurance, to be approved by the California Insurance Commissioner before taking effect

Provide for public notice, disclosure, and hearing on health insurance rate changes, and subsequent judicial review

Require sworn statement by health insurer as to accuracy of information submitted to Insurance Commissioner to justify rate changes

Exempt employer large group health plans under any circumstances

Prohibit health, auto, and homeowners insurers from determining policy eligibility or rates based on lack of prior coverage or credit history. Premiums for health insurance are at an all time high, benefits are going down, and many Californians cannot even get health insurance at any price. The public should expect a certain level of accountability and transparency for the skyrocketing rates being charged, especially when rates have been rising five times faster than the rate of inflation.

To read more about the bill, visit:

  http://ballotpedia.org/California_Proposition_45,_Public_Notice_Required_for_Insurance_Company_Rates_Initiative_(2014)