CHICAGO – To help ensure access to quality, affordable healthcare, state Rep. Justin Slaughter, D-Chicago, recently supported legislation to prevent insurance companies from enacting unreasonable rate increases.
“Allowing insurance companies to increase rates without any accountability or regulation puts many members of our community at risk of not being able to afford coverage,” Slaughter said. “I firmly believe that access to health care is a fundamental right that every person in Illinois should have, and charging unaffordable premiums for health insurance is unacceptable.”
The Slaughter-backed House Bill 471 would help prevent health insurance premiums from significantly increasing by requiring existing plans and any proposed rate hikes to be reviewed and approved by the Department of Insurance. Under this legislation, the Department of Insurance would have the authority to prohibit rate increases that are deemed excessive or unreasonable.
“No one should be at a loss for health insurance due to an unforeseen increase in their insurance premiums,” Slaughter said. “Citizens should have equal access to health care, and this legislation helps ensure that everyone in our community can afford the coverage they need.”