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Calif. bill considers controlling health insurance rates
ABC News

In the past year, two of California’s major health insurance companies have announced double-digit rate increases; both were scaled back under enormous public pressure. Now, there’s a movement to allow state regulators to say no to unreasonable rate hikes.

California regulates auto insurance rates under Proposition 103, which is credited with saving customers billions of dollars. So should we do the same for health insurance? That’s the question in Sacramento, where a big hearing is scheduled for Thursday.