Let's be honest about insurance rate hikes
Thanks to President Obama and the Affordable Care Act, also known as ObamaCare, Texans should be protected from unfair and unjustified insurance rate hikes. The Affordable Care Act calls for the Texas Department of Insurance (TDI) to automatically review any insurance rate hike 10% or more to determine whether or not it's a justified increase.
Unfortunately, six months have passed since the first of these rate increases in Texas and we are still waiting for TDI to make their first ruling. It is time for the TDI to stop playing politics with our health and start protecting Texans from unjustified rate hikes by multi-billion dollar insurance companies that are simply trying to pad their profits.
Progress Texas has teamed up with Texas Well and Healthy in a joint effort calling on Texas legislators and the TDI Commissioner to open the transparency on the entire process and ensure TDI is following the law and protecting Texas families.
Texas families can't wait any longer. While TDI stalls, Texas families are paying higher rates. One insurance company who raised rates more than 6 months ago here in Texas has already had its rate increase rejected in 5 other states.
Sign the petition and tell your legislator that you want TDI to:
- Be on time. One rate review has been pending for more than six months; others have been pending since February;
- Be accountable. TDI should publicly post whether they determine if the rate was reasonable or unreasonable;
- Be transparent. There should be more information on TDI's website about rate increases and rate review. TDI should provide basic information on every health insurance rate increase online;
- Be open. Make it easy for the public to comment on pending rate reviews.
We need our elected officials to help us shine some light on this process. Texas should provide summary information on every health insurance rate increase online so consumers can know which insurers are raising (or lowering) rates, when the changed rates go into effect, the average amount of the increase, and the number of Texans affected.
Texans need action, not stall tactics. Sign our petition today to hep protect Texas families!