FOR IMMEDIATE RELEASE
December 21, 2010
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AARP Applauds Proposed Rules to Make Health Insurance Premium Increases More Transparent
WASHINGTON—Today, the Department of Health and Human Services proposed new rules to make consumers aware of unreasonable premium rate hikes in individual and small group markets. The rules would require insurance companies to publicly file premium rate increases and justify increases of 10 percent or more. AARP Executive Vice President Nancy LeaMond applauded the proposed rules as one way to make the insurance market more competitive for Americans. LeaMond’s statement follows:
“Making more information publicly available has the potential to drive down health care costs by creating a more transparent and competitive marketplace for consumers buying health insurance. We have already seen instances in which greater public awareness about unreasonable premium hikes caused insurers to rethink major increases. Ensuring all Americans have access to clear information about their insurance options can help them make smarter health care choices.
“AARP will closely review the proposed rules announced today, and we look forward to working with HHS to ensure Americans have access to accurate, useful information. With millions of federal dollars already distributed to the states to help them review premium increases, AARP will also continue to work at the state level to ensure consumers receive value for their premium dollars.”
For more information, visit aarp.org.
AARP is a nonprofit, nonpartisan social welfare organization with a membership that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. AARP does not endorse candidates for public office or make contributions to either political campaigns or candidates. We produce AARP The Magazine, the definitive voice for 50+ Americans and the world's largest-circulation magazine with over 35.1 million readers; AARP Bulletin, the go-to news source for AARP's millions of members and Americans 50+; AARP VIVA, the only bilingual U.S. publication dedicated exclusively to the 50+ Hispanic community; and our website, AARP.org. AARP Foundation is an affiliated charity that provides security, protection, and empowerment to older persons in need with support from thousands of volunteers, donors, and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands.
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