Rauner Vetoes Bill That Would Have Regulated Insurer Profits and Rates

As expected, Illinois Gov. Bruce Rauner has vetoed legislation that would have regulated insurer profits and rates. House Bill 2525 also would have required the Workers’ Compensation Commission, in consultation with the Medical Fee Advisory Board, to create an evidence-based drug formulary with limits on prescriptions. Rauner said the proposed reforms did not go far enough, and that he opposed provisions that would have prohibited insurers from charging rates that produce profits that are “unreasonably high for the insurance provided or if expenses are unreasonably high in re...