Initiative To Control Health Insurance Rates Fails To Make November Ballot
An initiative aimed at controlling the price of health insurance in California will not be on the November ballot. State election officials say the measure fell just short of the number of valid signatures required to qualify.
The initiative would have given the state insurance commissioner the ability to regulate health insurance premiums.
Supporters say the measure is needed to keep insurance companies from raising rates at will.
California Insurance Commissioner Dave Jones said he should have the power to reject excessive rate increases.
"I have that authority for car insurance, for home insurance, for property and casualty insurance, but not health insurance. So, I think we need to fix that," Jones said.
Backers say they'll try to qualify the initiative for the November 2014 ballot.
Meanwhile, a similar bill is pending in the state legislature. Lawmakers have rejected measures to regulate health insurance premiums in the past.