Thursday, February 2. 2012
California Senator Dianne Feinstein recently signed onto a new ballot option that would give state regulators more ability to have say on health insurance rates, according to the Los Angeles Times.
The measure will be through a petition from consumers, in hopes that they can get 505,000 signatures necessary to get it added to the ballot during the November elections. This is not the first attempt to pass such measures, according to the news source. There have been multiple proposals in the past several years that have not been successful, and this could lead to a long dispute.
"I am proud to tell you that I was the first person to sign a new ballot initiative petition that will reform the health insurance industry in California," Feinstein said in an email, according to the news source. "[The initiative] would require health insurance companies to publicly justify their rates before rate hikes take effect."
The state is one of 17 in the United States that currently does not allow the government to have any say on health insurance rates, and how they are determined, the news source added.