May 19,2011

Baucus Comment on the New Premium Rate Review Regulation


To: Reporters and Editors
From: Scott Mulhauser and Erin Shields for Senate Finance Committee Chairman Max Baucus (D-Mont.)
Re: Baucus comment on the new insurance premium rate review regulation

Senate Finance Committee Chairman Max Baucus (D-Mont.) commented on the Department of Health and Human Services (HHS) regulation released today to increase transparency for consumers.  The regulation implements a provision Baucus worked to add to the Affordable Care Act (ACA) allowing HHS and state Insurance Commissioners to review health insurance premium increases.  The regulation also increases transparency for consumers by ensuring full access to information about proposed increases.  Baucus was a principal architect of the ACA in the Senate.  From Chairman Baucus:

“This new provision will help prevent unjustifiable insurance premium rate hikes that hit millions of Americans too hard.  Health reform puts consumers in the driver’s seat when it comes to insurance policies and ends an era of insurance company abuses.  Consumers have the right to know what they’re paying for, and that’s exactly what this new protection guarantees."