What Health Insurance Companies are Rate-regulated?By Keith from Stuart, FL on April 01, 2007 Category: Florida Health Insurance As I listen to different spiels from different insurance providers (individual health insurance) I am made aware of something I did not formerly know: that while there may be a myriad of admitted insurance companies in the State of Florida, authorized to sell health insurance, but there are only four that are rate-regulated, thus making very difficult for them to raise their rates without getting some sort of an approval from the state of Florida first.<div> </div><div>Is this true? The four that were mentioned were: Blue Cross/Blue Shield, Avalon Healthcare, Aetna and I can't remember the fourth. Anyway, when the representative from another company mentioned that I wouldn't be canceled because of how much I use their health plan, I remembered that nobody authorized to do business in Florida can cancel you because you use the plan too much, but they CAN raise their rates next year!</div><div> </div><div>So, what "hoops" do admitted insurance companies have to go through in order to raise their rates and are there really only four companies that are rate-regulated (allegedly meaning they have to submit some sort of business case to the State Department of Financial Services prior to raising rates statewide?).</div><div> </div><div>Thx.</div><div> </div><div>Keith</div> |
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