Q: What will happen if my insurance company raises my rates?

You will have access to new insurance choices in the same insurance marketplace where all members of Congress will buy their insurance. Either way, there will be new protections from insurance company abuses, and tax credits will make coverage more affordable.

Q: What will happen if my insurance company raises my rates?

A: The President’s plan requires public disclosure of the percent of premiums applied to overhead costs, so that you can be certain you are getting the best value for your premium dollars. 

• If your insurance company spends too much of your premium dollars on overhead, such as big salaries, administrative costs and marketing, they will be required to give you a rebate. 
• Until the insurance exchange marketplace is up and running, there will be a process for annual reviews of all requested increases in premiums.  Insurance companies that raise rates arbitrarily will not be allowed to sell policies in the new insurance marketplace.   This process continues even once the Exchange is up and running.