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Regulated Health Insurance

The following state government agencies license insurance companies, regulated health insurance, and license insurance producers a.k.a. agents or brokers, who produce applications for the insurers.

All regulated health insurance is licensed state by state. Relative to state oversight, there is very little federal regulation directed specifically at the insurance industry, including health insurance.

Health Insurance Rates

Typically, insurance regulators do not decide what the rates should be for regulated health insurance. In most cases, each insurer must file its proposed rates for regulated health insurance with the state's insurance authority and must be able to justify the rates with actuarial figures.

Usually, with individual regulated health insurance, it must be shown that the rates are reasonable considering the cost of claims and company operations and an allowance for reasonable profit if the insurer is a for-profit company. Regulated health insurance rates, should not be too high as to be excessive or too low as to jeopardize the company's financial integrity.

Unlicensed "Insurance"

State insurance regulators not only license insurers and producers, but also try to protect the public against unlicensed operations which offer "coverage" that is not regulated health insurance. Such operations may be well intentioned, but mismanaged and not financially stable, or may be a mere scam collecting premiums with no intention of paying the claims for their bogus offering. The premium quote for phony health "insurance" is typically much lower than regulated health insurance and seems very attractive to the gullible.

Licensing of regulated health insurance is financed by fees paid by insurers and producers.

This website and its content is not affiliated with, not endorsed by, and is not approved by, any insurance regulatory authority listed below.