The site currently flags insurers that propose premium rate increases of 10% or more.
The site eventually will offer data on all rate hikes, as well as information about why such increases are needed. The site also is expected to include data on:
- Average out-of-pocket costs for consumers;
- How quickly insurers pay claims;
- How often insurers deny claims;
- Costs of denied claims that are transferred to health care providers; and
- The percentage of premiums that an insurer is spending on health care services rather than on administrative expenses.
Read more: iHealthBeat
