Business group back greater insurance rate scrutiny
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- June
- 6
The head of the Westchester County Association called for greater regulation of the insurance industry in the wake of a recent settlement requiring Oxford Health Insurance to refund $50 million in overcharges to about 37,000 small businesses.
President William M. Mooney Jr. said he supports a proposal that would require the state Insurance Department to approve rate increases. The agency currently reviews increases after the fact; a review of Oxford led to the refund settlement.
“Our own Blue Ribbon Task Force on the Healthcare Crisis has been advocating this measure be passed for the past three years,†Mooney said in a statement. “We are pleased that the governor also recognizes the need for lawmakers to restore the tools to better monitor and manage the marketplace for health insurance rates.â€
This entry was posted
on Friday, June 6th, 2008 at 4:56 pm by Jerry Gleeson.
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