A new insurance company disclosure bill is headed to the governor’s desk, and if he signs it, health insurance companies would be required to provide more information when they intend to raise premiums.
Click to Listen This would mean that health insurance companies would have to post information about rate increases on their web sites, and state reasons for the increase in clear language, under a bill authored by Senator Mark Leno.READ MORE: Storm Watch: Evacuation Orders Issued for CZU Burn Zones in Santa Cruz County
“It will finally bring some transparency to rate increases for those who are seeing their health care premiums going up at lightening speed,” said Leno.READ MORE: Police Activity Temporarily Shuts Highway 17 Saturday Afternoon
The bill passed the assembly with bi-partisian support, and slid by in the Senate along party lines.
“The bill doubles the advance notice that consumers must receive prior to any rate increase up to 60 days,” said Leno.MORE NEWS: Elon Musk, Tesla Super Fans Blast Biden Administration Move Toward Regulating Autopilot
The governor is expected to sign the bill.