New York state insurance regulators are planning to release all documents relating to health insurance companies' applications for rate hikes, according to a Buffalo News report.
The newly-formed State Department of Financial Services notified health insurers last month that they would no longer be exempt from public disclosure rules regarding the details and supporting materials for their premiums.
According to the report, the data will be made public by late November unless insurers get a reversal or court injunction. The department received 10 letters in response from insurers last week.
The department has said it will now "err on the side of consumers and transparency," rather than protecting confidential information and preserving confidentiality for carriers.
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The newly-formed State Department of Financial Services notified health insurers last month that they would no longer be exempt from public disclosure rules regarding the details and supporting materials for their premiums.
According to the report, the data will be made public by late November unless insurers get a reversal or court injunction. The department received 10 letters in response from insurers last week.
The department has said it will now "err on the side of consumers and transparency," rather than protecting confidential information and preserving confidentiality for carriers.
Related Articles on Coding, Billing and Collections:
MedPAC Releases Updated ASC Medicare Payment Basis Document
Smaller Insurance Companies May Suffer From Slow Growth in 2012
Wisconsin to Review Health Insurance Rates for First Time