Washington State residents will likely face even higher health care premium costs in the near future. Washington Insurance Commissioner Mike Kriedler is out to “limit insurers’ ability to narrow their networks…”
Tomorrow, Kriedler is expected to approve a new rule that places strict regulations on insurers’ “ability create narrow networks as a means of cutting costs, thanks to backlash over the limited health plans available in the wake of Obamacare regulations.” Strict regulations means insurance companies will turn to the only other option available to control costs: increasing premium rates.
Apparently, Washington residents can rest assured that this will not happen. After all, Kriedler “doesn’t believe prices will increase as a result of his rule” despite the fact that “it’s not yet clear how the state will enforce its limits on narrowing networks or what the benchmarks will be.” Additionally, “the proposed rule concedes that further clarification of “provider network criteria” is still needed.”
Which means Washington State is on track to once again enforce an incomplete and unknown health care regulation…