Missouri Gov. Jay Nixon signed legislation Tuesday mandating health insurers file proposed rate changes for health plans offered on the Affordable Care Act to the Missouri Department of Insurance for review, The Missouri Times reported.
Proposed rate changes in the state can currently only be reviewed by federal regulators. Starting 2018, Missouri will be able to access rate change information and determine if rates are reasonable. While the department will not be able to approve or block rate changes, it will be able to make information available online and subject to public comment.
"Up until now, Missouri was the only state in the nation without the ability to review health insurance rates, ceding that responsibility to the federal government," Gov. Nixon said. "Now, with this legislation, Missouri consumers will no longer be in the dark when shopping for health insurance plans."
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