WASHINGTON, Sept. 12 (UPI) -- The Affordable Care Act has saved more than $1 billion by requiring health insurance companies to justify large premium increases, U.S. officials said Thursday.
The rate review provisions of the act, popularly known as Obamacare, took effect Sept. 1, 2011. Those require reviews of every increase in premiums of 10 percent or more with states getting grants to help them implement the system.