The Department of Health and Human Services has awarded over $46 million to 45 states and the District of Columbia in order to better monitor hikes in insurance premiums.
The grants were awarded under the Patient Protection and Affordable Care Act. The funds will allow states to create and upgrade technology to better monitor proposed insurance premium increases. The goal is to promote competition in the insurance market by making information more transparent and accessible to consumers. There are also 26 states, plus the District of Columbia, that have the authority to reject excessive and unfair premium rates. A monitoring system will help these jurisdictions enforce this power.
To read more about this grant program, click here: