FOR IMMEDIATE RELEASE
August 16, 2010
Contact: Jason Moon 517-335-1700
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LANSING – The U.S. Department of Health and Human Services (HHS) today announced that the State of Michigan has been awarded a $1 million Affordable Care Act grant to improve the oversight of proposed health insurance premium increases, take action against insurers seeking unreasonable rate hikes, and ensure consumers receive value for their premium dollars. 

“This grant will help us increase consumer protection and improve rate transparency,” Office of Financial and Insurance Regulation (OFIR) Commissioner Ken Ross said. 

OFIR will use the $1 million provided through this grant to expand the agency’s in-depth review and analysis of health insurance rate filings into areas that, due to budgetary constraints and limited review authority, it has not historically engaged in – health maintenance organizations and commercial carriers. 

The federal grant will provide OFIR with new tools to ensure that the rate review process is fair and transparent and will give the agency new capabilities to help guard Michigan consumers from unreasonable rate increases in the future.

The Affordable Care Act provides States with $250 million in Health Insurance Premium Review Grants over five years to help create a more level playing field by improving how states review proposed health insurance premium increases and holding insurance companies accountable for unjustified premiums increases.  Applications for the first round of Health Insurance Premium Review Grants were made available on June 7.

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