Schakowsky Introduces Health Insurance Rate Review Legislation

Rep. Jan Schakowsky, a Chief Deputy Whip, introduced H.R. 3450 the Health Insurance Rate Review Act, which would allow the Secretary of Health and Human Services to block or modify unreasonable health insurance premium increases in states where insurance regulators lack the authority to do so. Senator Dianne Feinstein (D-CA) introduced companion legislation in the Senate. After introducing the bill, Rep. Jan Schakowsky released the following statement:

“With health insurance premiums on the rise around the country in part because of the instability created by President Trump’s threats to sabotage the Affordable Care Act, it is more important than ever to give insurance regulators the authority to prevent unreasonable price hikes. It is unacceptable that in many states like Illinois, consumers are at the mercy of insurance companies that continue to raise premiums because there is no authority to block unfair rates or negotiate for lower ones. This week, some insurers in Illinois announced that they would increase premiums by over 30%. The legislation I introduced with Sen. Feinstein would give consumers federal protection from these unreasonable spikes.”