The U.S. Department of Health and Human Services has issued its first rebuke to an insurer under the federal rate review provision of the Affordable Care Act.
HHS says a 12% premium increase by Everence Insurance of Pennsylvania on its ShareNet employer group customers is “unreasonably high” and asked the insurer to rescind the hike. HHS says insurers can either reduce their rate hikes or post a justification on their website within 10 days of the rate review determination.
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