Insurance Regulation, Transparency Please!
Consumers Ask for Transparency in Health Insurance Rate Increases
Under Governor Greitens, the state has launched an initiative to increase transparency and within that framework, Consumers Council of Missouri submits a formal argument that the Department’s regulation 20 CSR § 10-2.400, on the redaction of trade secrets, should be updated to reflect what is required by law and that nothing that isn't a trade secret should be withheld from the public.
Insurance companies routinely designate a substantial amount of information in their rate filings as confidential which makes it virtually impossible for consumers to weigh in during federally mandated public comment periods. If we really want to increase transparency as a state, we should add transparency, we should start with the rising costs of health care.