Sacramento Business Journal: Supporters of Prop. 45 predict health plan rate gouging after the measure’s defeat

Proponents of Proposition 45, which would have given California’s insurance commissioner the authority to regulate some health plan rates, say that those rates will continue to skyrocket, following the measure’s defeat at the polls.

Commissioner Dave Jones has tried to get this authority into law for almost 10 years, dating back to his days in the state Legislature. He blamed “$57 million worth of false television commercials, radio ads and slick mailers” for the loss Tuesday.

Proposition 45 went down by a margin of 59.8 percent to 40.2 percent, according to figures from the California Secretary of State. Jones, meanwhile, won a second term with 56.3 percent of the vote to challenger Ted Gaines‘ 43.7 percent.

Continue reading here: http://www.bizjournals.com/sacramento/news/2014/11/05/supporters-of-prop-45-predict-health-plan-rate.html?page=all

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