What is one of the main objectives of health insurance regulation?

One of the main objectives of health insurance regulation is to protect consumers. This focus on consumer protection ensures that individuals have access to fair and equitable health insurance products. Regulations are designed to safeguard against unfair practices, prevent discrimination, and ensure that policyholders receive the benefits they are entitled to under their plans. Health insurance regulations also aim to provide transparency in policy terms, allowing consumers to make informed decisions regarding their insurance options.

Consumer protection is a critical component of health insurance regulation, as it fosters trust in the insurance system and ensures that individuals can access necessary healthcare services without facing unreasonable obstacles. By establishing standards for coverage, claims processing, and marketing practices, regulators help create a more stable and reliable healthcare environment for all participants.