Suspending Rate Regulation Was Right Decision
State Rep. John Wood and Sen. Aaron Bean pen an op-ed column, published in the Tampa Bay Times, that defends the Legislature's vote to take away the state Office of Insurance Regulation's rate-regulation authority for two years. They argue that the new federal health law created so many unknowns that it wouldn't be possible for the state to regulate rates until the law is fully implemented.
Wood, R-Winter Haven, was the sponsor of the bill in question, HB 7155. He and Bean, R-Fernandina Beach, served on the Select Committee on the Patient Protection and Affordable Care Act. The committee held hearings that led to passage of that bill, as well as others related to the law.