Top Health Insurers Summoned to White House

health rate premiums

On Thursday, the Obama Administration called top health insurance companies, to throw light on the skyrocketing health rate premiums.

Health Secretary, Kathleen Sebelius, after a meeting with many top notch health insurance executives, asked the health insurers to post information about growing rates online, accompanying relevant financial data to support them.

"The meeting was really focused on what is happening with the kind of jaw-dropping rate increases that people are seeing, particularly in the individual and small-group market and what are the reasons for it", she said.

She urged that the lawmakers should pass a final healthcare bill.

Consumers who bought policies for themselves in the individual market were seen to be most affected rather than those who were covered by their employer or Government-run programs such as Medicare.

Aetna Inc.'s Ronald Williams, Cigna Corp.'s David Cordani, UnitedHealth Group Inc.'s Stephen Hemsley and WellPoint Inc.'s Angela Braly, were summoned by Sebelius for the meeting.

While, Sebelius told the reporters that she would mail a follow-up letter to the companies, the executives said that they have made no commitment to post more information online.

Shares of health insurers fell by 3.7%.

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