Affordable Care Act Consumer Disclosure Notices to Bring Unprecedented Level of Transparency to Health Insurance Marketplace
By Mel Fabrikant Monday, March 07 2011 @ 03:39 PM EST
Proposed notices detail information insurance plans would have to give to consumers to justify rate increases over 10 percent
Today, the Centers for Medicare & Medicaid Services (CMS) published proposed consumer disclosure notices, required by the Affordable Care Act, that insurers would be required to complete and report electronically when they propose rate increases over 10 percent. The information provided would give consumers detailed information about proposed increases that could be easily accessed on the HHS website. The notices would help consumers know what their insurance companies are proposing while the rate increase requests are being reviewed.