Small Group Health Insurance Rate Regulation is Proposed in California
The California Insurance Commisisoner, Dave Jones, is backing a Ballot measure in November 2014 that would allow the CA Department of Insurance to regulate small group health insurance rates. Small group is defined as a health plan with 50 or less participants on the plan. Currently, rates are set by the various health insurance companies without rate control by the DOI. There are 37 states in the US where small group rates are approved by their respective DOI.
The Fresno Bee wrote an article on the subject and it may be found on this link: Fresno Bee Article
2014 is when the most significant aspect of Health Reform / Obamacare takes effect. This is the year when mandatory coverage for all Americans becomes effective. Van Beurden Insurance Services, Inc. strongly urges each employer to have a plan in place by June 2013 on how they will handle the huge impact of mandatory coverage. If you do not have a plan, or do not know how Obamacare will impact your business, please give us a call and we will find a solution specific for you and your business. We have expert Health Insurance Consultants who can guide you through this new business environment we are all entering into.
Small group rate regulation in CA is just one more possible change to the big changes that 2014 will bring.