Insurance commissioner responds to concerns - KUAM.com-KUAM News: On Air. Online. On Demand.

Insurance commissioner responds to concerns

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by Mindy Aguon

Guam - Healthcare Committee chairman Senator Frank Aguon, Jr. received a response to his request for a review of the Fiscal Year 2011 health insurance rates.  Aguon wrote a letter last week asking that Insurance Commissioner John Camacho review the negotiating process that occurred between a panel of government representatives and Calvo's SelectCare. 

While the Banking and Insurance Commissioner's Office is charged with the review of policy and rate filings including health insurance, Camacho says the negotiating team had the assistance of an actuary from AON Insurance consultants to evaluate the rates.  The commissioner added that his office has no funds to hire its own actuary for rate review. 

Camacho signed-off on this year's contract and says he will not investigate any complaints unless there's an allegation that the law was broken.

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