Inaction prevents Hoosier consumer protection progress

Today’s inaction in the Senate prevented Senate Democrats from introducing a package of amendments aimed at limiting dramatic health insurance rate hikes.  House Bill 1240 was not called for 2nd reading preventing introduction of the amendments on the Senate floor on the last day for such action.

Similar provisions were discussed in the House of Representatives today. There is a possibility that these ideas can be revived in another bill during final negotiations (conference committees) next week.

Senate Democrats look forward to working with their colleagues across the aisle and in the House to protect Hoosier consumers.

Today in the Senate: Combating rising health care costs

Today look for Senate Democrats to push for greater consumer protection from health insurance increases for Indiana residents. A package of amendments to House Bill 1240 is expected to strengthen the state’s regulation of health insurance rate increases, establish a statutory standard for cents on the dollar spent for medical benefits instead of profits, and expand public notice process for premium hikes.

If approved the amendments will do the following:

• Limit the year to year rate increase to a maximum of 15%. Read Amendment 1240-4 >
  
• Require that 70 cents for every premium dollar be spent on medical care benefits. Read Amendment 1240-9 >
• Require the Indiana Department of Insurance to publish the percentage of premium dollars spent on medical benefits vs. administration and profits under each plan.  Read Amendment 1240-10 >
  
• Adopt a public hearing process through the Indiana Department of Insurance and require a 60 day notice to consumers before a rate increase takes place.  Read Amendment 1240-5 >

Earlier this week Health and Human Services Secretary Kathleen Sebelius released a new government report calling for health insurance reform and increased federal oversight saying that the increased health insurance premium rates are likely to continue. Read the full story > At the same time, national attention has been drawn to health insurance rate increases by Indianapolis-based company WellPoint.  Today WellPoint CEO Angela Braly will testify before a congressional committee in D.C. Read the full story from the Indy Star >

The Senate will reconvene for session at 1:30 p.m. today. Watch live here >

Check back here at The Briefing Room later today for the inside scoop on Senate Democrat proposals. You can also follow us on Twitter at http://twitter.com/INSenDems