State officials say they lack authority to regulate Trustmark Life Insurance Co.'s health insurance premium rates following the federal government calling the insurer proposed increase "unreasonable." U.S. Department of Health and Human Services Secretary Kathleen Sebelius says the company has proposed unreasonable rate increases in Alabama, Arizona, Pennsylvania, Virginia, and Wyoming. The 2010 health care law requires insurers to justify rate increases over 10%. Trustmark in a statement told the Casper Star-Tribune that it disagrees with the department's conclusions and says it takes into account its loss ratio that varies significantly from year to year. The insurer has about 1,400 policyholders in Wyoming. Wyoming Insurance Commissioner Ken Vines says Wyoming lawmakers have decided that a competitive market, rather than the government, should regulate rates.
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