Rep. Raúl M. Grijalva today highlighted a $2 million federal grant to the Arizona Department of Insurance to oversee new health insurance premium standards and create a transparent rate database for customers. The money comes from the Department of Health and Human Services (HHS) through the Affordable Care Act.
The grant will help the state institute a review and approval process for individual and small group health insurance premiums; create an online forum where Arizona residents can easily access detailed information about available health insurance plans; and implement a new system to collect rate information. Insurance rate reviews have already saved customers more than $2 billion around the country, mostly in reimbursements for excessive premiums. You can learn more from HHS at http://1.usa.gov/QKKtxy.
"The health insurance industry should be open and transparent to the public, and premiums shouldn't spike whenever a CEO wants to make some extra money at customers' expense," Grijalva said. "The Affordable Care Act is helping to end excessive premiums and other customer abuses, and it's making it possible for all of us to understand the insurance we're buying. This grant is a big step forward for Southern Arizona and for making insurance more affordable for all of us."