Aetna Inc. will stop selling individual health insurance policies in California next month, just weeks after opting out of the exchange that is being established as part of the national health care reforms, a state regulator said Tuesday.
A California legislative committee on Wednesday narrowly approved a bill that would give state officials the power to reject proposed health insurance rate increases, but even some supporters said it will need major changes to survive.
A bill that would allow state officials to reject rate increases proposed by health insurers is under intense lobbying pressure as it faces a key committee vote this week.
California Insurance Commissioner Dave Jones is calling for changes as the state’s health insurance premiums continue to rise.
After a state audit, California’s seven largest health insurers face nearly $5 million in fines for wrongly refusing to pay claims to hospitals and physicians.