Dept. of Finance Opposes Insurance Rate Regulation Bill
At a Senate Appropriations Committee hearing this week, officials from the California Department of Finance expressed opposition to a bill (AB 52) that would authorize state regulators to approve, deny or modify changes in health insurance rates. The Department of Finance cited an analysis of the bill that found "substantial first-year and ongoing costs" as a reason for its opposition. Insurance Commissioner Dave Jones (D), health advocacy groups and other supporters of the bill say that the measure would protect businesses and consumers from excessive increases in premiums. Gov. Jerry Brown (D) has not taken a formal position on the legislation.
- "California Health Insurance Rate Bill Faces Growing Opposition" (Van Oot, Sacramento Bee, 8/18).