CHICAGO (AP) — The Illinois Department of Insurance has been awarded a $1 million federal grant to put more muscle into its review of health insurance premium increases.
The new national health care law will require most Americans to have health insurance by 2014 or pay a tax penalty. It included $250 million for states to improve their health insurance rate review systems.
The Illinois insurance department plans to use the grant to increase staffing and invest in technology to beef up its analysis of premium increases.
Illinois Department of Insurance Director Michael McRaith says the result will be better consumer protection and more information for consumers and policymakers.
Copyright 2010 The Associated Press.
The new national health care law will require most Americans to have health insurance by 2014 or pay a tax penalty. It included $250 million for states to improve their health insurance rate review systems.
The Illinois insurance department plans to use the grant to increase staffing and invest in technology to beef up its analysis of premium increases.
Illinois Department of Insurance Director Michael McRaith says the result will be better consumer protection and more information for consumers and policymakers.
Copyright 2010 The Associated Press.
