Today, the Centers for Medicare & Medicaid Services (CMS) increased transparency and oversight of health insurance premiums by launching a new tool designed to help consumers easily review rate increases requested by insurance companies in every state.  Under the Affordable Care Act, every premium rate increase of 10 percent or greater for non-grandfathered coverage in the individual and small group markets must be reviewed and made available for public scrutiny.  Consumers can visit https://ratereview.healthcare.gov  and enter a state or insurance company name into the new consumer friendly tool to find out about proposed or finalized health insurance company rate increases.  The tool currently contains information on rate increases for the 2014 and 2015 benefit years for single risk pool compliant plans, but does not contain information on grandfathered plans that existed prior to March 23, 2010 or transitional plans that are subject to a different review process.

 

To view information about health insurance rates in a state, visit: https://ratereview.healthcare.gov

 

For more information about the rate review program, please visit: http://www.cms.gov/CCIIO/Programs-and-Initiatives/Health-Insurance-Market-Reforms/Review-of-Insurance-Rates.html or ask your Total benefit Solutions account manager at (215)355-2121