TALLAHASSEE, Fla. (AP) — A Senate health committee in Florida recommended Monday that the state suspend the Office of Insurance Regulation's power to set rates for insurers under the Patient Protection and Affordable Care Act (PPACA) and instead let the federal government handle that responsibility.
With federal officials issuing new regulations weekly, lawmakers decided it would be best for those officials to oversee that approval process for the next year or two, especially because there will likely be large rate increases. The committee chairman, Sen. Joe Negron, said he thought it would be difficult for the Office of Regulation to determine what reasonable rates are under the new system because there are still many uncertainties.
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