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Rep. Wool’s Newsletter: Fighting to Lower Health Insurance Costs

January 29, 2016

I was working on this week’s enewsletter about my bill to lower health insurance costs by reforming the rate review process, and then news broke yesterday afternoon that makes this bill even more important. Yesterday, the Division of Insurance announced it was cancelling Moda Health’s ability to sell or renew health insurance plans in Alaska. This leaves Premera Blue Cross Blue Shield as the only company selling individual health insurance, and now that one provider has a monopoly it is more important than ever that we a strong rate review process to protect Alaskans from unfair prices.

NEWS: Concerns Raised About Monopoly of Individual Health Insurance in Alaska

January 28, 2016

Juneau – Today, the Alaska Division of Insurance cancelled Moda Health’s ability to sell health insurance in Alaska. That leaves Premera Blue Cross Blue Shield as the only company selling individual health insurance plans in Alaska. Representative Adam Wool (D- Fairbanks) responded to the news by highlighting the need to reform Alaska’s health insurance rate review process. Rep. Wool is the sponsor of House Bill 239 which would create a series of reforms to strengthen the Division of Insurance’s review process and make sure consumers are informed of proposed rate increases.