NJ Lawmakers Want Government Discretion Over Health Insurance Rates

TRENTON, N.J. (CBSNewYork) — Garden State companies that provide health insurance to individuals and small businesses can raise rates just by filing the information with the state. However state lawmakers in both the Assembly and Senate are proposing legislation that would require the firms gain approval from New Jersey’s Department of Banking and Insurance.

LISTEN: WCBS 880’s Monica Miller reports

One of the bill’s sponsors, Democrat Assemblyman Dan Benson from Hamilton Township, says residents deserve a watchdog when it comes to the complicated issue of rising health care premiums.

If approved, the legislation would also require public hearings on any proposed increases and explanations for the rate hikes would have to be made available on the Department’s website.

What do you think of this proposal? Sound off in our comments section below…


One Comment

  1. kevindews27 says:

    Currently, the cost of health care is rising at a much higher rate than inflation. Even if we were to implement your beloved single payer, at a certain point we can not afford to pay for every new treatment and technology that comes along if we want to have any semblance of an economy. If you dont have insurance you should check out “Penny Health” for information on how to get one.

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