HHS Releases Report on Insurance Company Price Hikes

Health and Human Services Secretary Kathleen Sebelius has released Insurance Companies Prosper, Families Suffer: Our Broken Health Insurance System.

The report cites half a dozen examples, from Maine to Washington State, in which insurers, despite record profits last year, have sought outrageous premium increases for people who buy coverage individually (i.e., those who are not covered by their employer or another group plan). In almost every case, state insurance regulators rejected all or part of the requested increases.

“It shines a light on the urgency for health reform,” Sebelius said.

The report concludes with details of how national health reform will drive down premium costs and limit out-of-pocket costs while providing more choice and better protection for consumers.