Prior approval of insurance rates advances

Senators gave first-round approval Feb. 5 to a bill that would require state regulation of all health insurance rates for policies issued in Nebraska subject to the federal Patient Protection and Affordable Care Act (ACA).

Holdrege Sen. Tom Carlson, sponsor of LB336, said it would ensure Nebraska compliance with the ACA as a prior approval state.

“The ACA requires a state to approve the health insurance rates if put in state statute,” he said. “If a state fails to do so, regulation falls to the federal government.”

The bill advanced to select file 38-0.