Senator Hernandez Statement on Rate Regulation Bill

Senator Hernandez Statement on Rate Regulation Bill

Sacramento, CA – California State Senator Dr. Ed Hernandez, O.D. (D – West Covina) released the following statement today concerning Assembly Bill 52, which would implement a system of rate regulation for health insurance policies in California.  The bill is being heard today in the Senate Health Committee, where Senator Hernandez serves as Chair.
 
“I support the concept of rate regulation because rising costs throughout the healthcare system are making health insurance unaffordable for the average Californian.  In just the past year alone, insurers have come out with proposed rate increases of as much as 39%, and I have heard from consumers who have seen their payments double within a matter of months.  Rate regulation offers an opportunity to alter that trend.  I have proposed several amendments to AB 52 to increase transparency on cost drivers within the system, create clear implementation timeframes, and ensure the process is de-politicized.  I think my proposals improve this bill and give it a better chance of being signed into law.  I look forward to working with the author and sponsors on crafting a rate regulation bill that is both strong and functional.”