Individual Californians are required to buy healthcare insurance.
But we have little power to negotiate rates with the big healthcare insurance companies. Currently they set rates, and we just have to pay them.
We the people of the State of California need a way to fairly negotiate rates with the insurers.
While it is not perfect, the only reasonable way to do that is to empower the State of California government to reject rate hikes that are unfair to us.
That is what Proposition 45 establishes. Rate hikes (with the exception of those negotiated by large corporate employers) would have to be approved by the office of the Insurance Commissioner.
It is not ideal. But the Insurance Commissioner is elected, so at least we can change Commissioners if we don't like the results.
Yes on 45, Healthcare Insurance Rate Oversite.
Text and official arguments for California Propositon 45