HHS Says Rate Review Process is Working!

[cadylou]

HHS: PPACA rate review system is working | LifeHealthPro

Wow - this isn't what I see in my market - we saw big increases . . . .I'd love to see their "report" whose authors are "unnamed" according to the article!

 

[RayNY]

Wow - this isn't what I see in my market - we saw big increases . . . .I'd love to see their "report" whose authors are "unnamed" according to the article!

Doesn't matter how big the increases are, all that matters is what is approved is less than what was filed for. As long as that's true, this is "working" and "saving money" (even if carriers just game the system to get the increase they actually wanted by applying for more).

 

[AllenChicago]

Doesn't matter how big the increases are, all that matters is what is approved is less than what was filed for. As long as that's true, this is "working" and "saving money" (even if carriers just game the system to get the increase they actually wanted by applying for more).

HHS (and govt in general) knows how "spin" everything to make it good news, and to give themselves credit.

I remember reading HHS's explanation of why the MLR rebates to consumers this year were so few in number, and so small in $$ amounts.. "We forced health insurers to spend your hard-earned premium dollars on Medical Care, instead of wasteful Administrative Overhead!"

 

[RayNY]

HHS (and govt in general) knows how "spin" everything to make it good news, and to give themselves credit.

Oh yea.

"Overall, DFS cut insurers’ requested 2016 rates by more than 30 percent in the individual and small group markets, which will save policyholders more than $430 million."

They say they saved money, but ignore that the ~8% rate increase means that overall premium is nearly a billion dollars higher than last year, and ignore that carriers just submitted requests 30% higher on average than needed, knowing it would be reduced.

After all, if MLR works, it should self-regulate rate increases and remove the need for any approval/DOI level rate changes. Rate approval just cripples the system into a spiral of negative profits.