Proposition 45 - Public Notice Required for Insurance Company Rates Initiative
If approved by voters, the initiative would:
Require changes to health insurance rates, or anything else affecting the charges associated with health insurance, to be approved by the California Insurance Commissioner before taking effect.
Provide for public notice, disclosure, and hearing on health insurance rate changes, and subsequent judicial review.
Require sworn statement by health insurer as to accuracy of information submitted to Insurance Commissioner to justify rate changes.
Exempt employer large group health plans under any circumstances.
Prohibit health, auto, and homeowners insurers from determining policy eligibility or rates based on lack of prior coverage or credit history.
Overall, the initiative would impose on the health insurance rate regulation system what Proposition 103 (1988) imposed on automobile and homeowners insurance.
Supporters refer to the initiative as the Insurance