One of the bills would create a California health insurance exchange that will provide consumer subsidies and Medicare choices. A five-member board will be set up to determine and choose the health insurance companies that can participate in the exchange. Interestingly enough, The Wall Street Journal reports that the exchange will have fewer choices than there are currently in the market for individuals. The exchange will be in contradiction with the market that exists today and the idea that more choice increases competition, but it will also create a new form of competition among insurers.
Another bill will provide consumers with greater transparency with regard to the increase in insurance rates. The rates will be subject to independent review and consumers will receive 60 days notice before the rate increases take effect.
individual health insurance policies will also be listed in five levels of insurance if another bill is signed. This will help consumers to easily determine the different plans and help to clarify the insurance products that do not meet certain standards.
The final bill will require terminations to go through an independent review to ensure that mistakes are not made. reform of health care is already illegal cancellation unless it is due to fraud.
All these bills will increase consumer protection and benefit many residents of California.
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