Prop 45 – on the November ballot — could give the California insurance
commissioner advance approval authority over health insurance rates.
WHAT YOU NEED TO KNOW
- Supporters point to 35 states and the District of Columbia which have some form of prior regulatory approval Say Prop 45 mirrors the same approval authority the commissioner has over property and casualty lines
Suggest it bridges a gap in the Affordable Care Act which leaves rate
regulation up to states
- Call it a key tool to hold down insurance costs.
- Detractors lament giving one individual authority over everything
- Point to the uncertainty about how it might be implemented if passed
- Predict higher costs if it passes.