Fla. Senate committee wants feds to set rates
Fla. Senate committee votes to let feds handle rate setting for new policies under ACA
TALLAHASSEE, Fla. (AP) — A Senate health committee is recommending that the state suspend the Office of Insurance Regulation's power to set rates for insurers under the Affordable Care Act and instead let the federal government handle that responsibility.
With federal officials still issuing new regulations weekly, lawmakers decided it would be best for the feds to oversee that approval process for the next year or two, especially because there will likely be large rate increases.
The Office of Insurance Regulation will continue to review new policies to make sure they are in compliance with state laws.
The committee also voted Monday to extend health coverage to the state's part-time employees, reasoning the $137 million a year coverage cost is cheaper than paying a $318 million fine.
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