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Push for More Transparency from Insurance Companies

9 March 2010 93 views No Comment

President Obama is trying to rally support for his health care plan as the White House pushes to have the overhaul bill wrapped up within the next two weeks.

Meantime, the Secretary of Health and Human Services, Kathleen Sebelius, is looking for more transparency from insurance companies.

Sebelius wants insurance companies to make public their costs of doing business when they want to raise premiums.

Sebelius has written a letter to the heads of several insurance companies asking for this information. This comes after a meeting at the White House with insurance executives last week.

Insurance company executives have said rising medical costs are behind premium increases, but Sebelius says the numbers don’t add up:

Medical trend is ahead of the normal inflation, but the rate hikes we’re seeing are so far in excess of medical trend that it still doesn’t make a lot of sense,” Sebelius said.

Here in California, Anthem Blue Cross has proposed rate increases of up to 39 percent on some individual health plans.

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