“Insurers seeking rate increases of 10 percent or more will face increased government scrutiny starting in September under rules finalized Thursday.
States — or in some cases the federal government — will review the premium increases that cross that threshold, and insurers will have to justify increases deemed unreasonable. The law doesn’t give the federal government power to reject increases, but many state regulators have that authority.
The rules, required by the federal health care law enacted last year, also require insurers to provide a broad overview of what they plan to do with money. How much will they spend on medical services and administration and how much will be reaped as profits.”
I don’t agree with Obamacare… but I do agree with this.