Bill provides for Missouri agency review of ACA rate hikes
ST. LOUIS (AP) — Health insurance companies would no longer be able to raise rates for Affordable Care Act consumers in Missouri without review by a state agency under a measure awaiting the governor's signature.
Advocates say the change is long overdue. A spokeswoman for the state agency that governs insurance says Missouri is the nation's only state that does not receive or review health insurance rates. Without state oversight, the task has fallen to the federal government.
Missouri lawmakers this month approved Senate Bill 865, a provision of which gives the state authority to review any proposed rate increase for ACA consumers. The notification would also give consumers a chance to comment on the rate hike proposals.
The measure must still be signed into law by Gov. Jay Nixon.