Federal oversight of insurance rates meant to increase transparency

    When federal auditors begin reviewing insurance rate increases in Pennsylvania’s small-group health insurance plans this fall, the feds won’s actually have the power to regulate costs.

    But that might not matter. Gary Cohen, acting director of the federal Center for Consumer Information and Insurance Oversight, tells Health & Science reporter Carolyn Beeler the oversight alone and the pressure to be transparent can help prevent companies from posting excessive increases.

    Under the new practice, companies whose increases are deemed too high will be required to explain the new rates for consumers to read on healthcare.gov.

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