OPED–Insurance Department Needs Teeth

“Imagine a jury that can find a criminal guilty but can’t sentence that person to jail. How about a cop that can pull you over for speeding but can’t write a ticket? Or, a referee that can throw a flag but can’t impose a penalty. Whoever oversees the rules in life needs to be able to enforce the rules.
Just like football refs need to be able to enforce penalties for holding, the “referees” that oversee marketplaces need enforcement tools, too. As the referee of our insurance market, the Texas Department of Insurance plays a critical role for all of us. But TDI is lacking a needed enforcement tool — it can’t stop a health insurance company from charging excessive rates.”
You can read Stacey’s complete Austin American-Statesman oped here.

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