Health insurance companies have a lot to look out for these days. With the deadline for nationally mandatory health insurance still four years away, some companies may be trying to institute insurance hikes.

Under the Affordable Care Act, Health and Human Services Secretary Kathleen Sebelius announced grant money totaling $46 million will be awarded to 45 states and the District of Columbia to help combat health insurance premium hikes.

"As we continue to implement the new health insurance reform law, we will continue to work with states to ensure they have the tools they need to ensure the stability of the marketplace, keep costs low and provide consumers with increased transparency, choice and quality they need to make the best health care decisions for their businesses and families," said Office of Consumer Information and Insurance Oversight director Jay Angoff.

There are several ways states have proposed using the funding. One way some states want to use the funds is to help create programs that will require approval before any rate increases can take place. Other states have proposed to use the funds to help make the health insurance review process more consumer-focused.