Holland Testified Before Congressional Panel

Tuesday, June 26th 2007, 6:06 pm
By: News On 6

OKLAHOMA CITY (AP) -- Insurance Commissioner Kim Holland told members of a congressional panel Tuesday that insurance companies are preying on elderly Oklahomans by selling unnecessary Medicare plans.

Holland traveled to Washington, D.C. to testify before the U.S. House Committee on Energy and Commerce's hearing on Predatory Sales Practices in Medicare Advantage.

Holland wants a change in federal law to allow state insurance authorities to regulate companies marketing Medicare Advantage offerings. Currently, such plans are regulated by the federal government, and state authorities are pre-empted from regulating
the sales.