Health and Human Services (HHS) Secretary Kathleen Sebelius called a meeting to discuss escalating premiums with state insurance regulators.
Ms. Sebelius proposes that insurance companies post online explanations of their rate hikes. She would also like to see spelled out where the premium revenue is meted out between marketing and administrative expenses in comparison to patient healthcare. Her request was distributed to CEOs of CIGNA, Aetna and Health Care Service Corp.
The basis for estimates of medical costs for each health insurance company and utilization in addition to the actual number of people receiving premium increases will have to be made public.
Bravo. This is certainly information that we, the public, should have access to and know.