Sen. Chris Larson, D-Milwaukee, and Rep. Debra Kolste, D-Janesville, announced a new bill proposition at a news conference Thursday that addresses high health insurance rates in Wisconsin.

Robert Kraig, executive director of Citizen Action of Wisconsin, said Wisconsin has the fourth most expensive health insurance in the country. The Commonwealth Fund reported a seven percent increase between Wisconsin’s health insurance premiums in 2014-15.

“This bill simply provides for a proactive rate review that will give the consumer great opportunity to be involved in the process in setting rates for health insurance,” Kolste said.

According to the Milwaukee Business Journal, deputy insurance commissioner Dan Schwartzer said letting insurance companies decide their own rates would lead to minimal hikes in rates. But Kraig insisted the seven percent overall increase is too much.

Kraig, Larson and Kolste called on Gov. Scott Walker’s administration’s Office of the Commissioner of Insurance to institute a stricter review process that would hold insurance companies accountable for justifying rate hikes. They also called for greater transparency with the public.

Among the provisions of the bill, the Office of the Commissioner of Insurance must hold public hearings if a rate spikes more than 10 percent, as well as give consumers at least 60 days notice of any rate increase. It also gives the office power to deny any rate increases that are not justified by medical costs.

7 Things Wisconsin Must Do To End Excessive Health Insurance Rate Hikes http://t.co/wtXdC0w5vn #wipolitics #wiunion #aca

— Citizen Action of WI (@CitizenActionWI) September 3, 2015

Kolste said the Affordable Care Act, which was signed into law in 2010, already gave the Office of the Commissioner of Insurance authority to have a rate review, but every year since, the office found that the rates were not “excessive.” Kraig argued even if the office found nothing out of the ordinary with the rates, Wisconsin’s rates are still among the highest in the country.

Kraig said insurance companies currently follow a “file and use” system for rates, meaning all they have to do is file a rate and can immediately use it.

Instead, Kraig said the Office of the Commissioner of Insurance should have more oversight by approving every new rate first. Neighboring states, he said, are saving money by having stricter rate reviews.

“Minnesota has lower insurance rates [because they] reject insurance company rate increases and make them go back to drawing board,” Kraig said.

Citizen Action of Wisconsin released a report in April listing ways to make Wisconsin health insurance rates as low as they are in Minnesota, including accepting enhanced Medicaid plans and not letting any new non-Affordable Care Act plans to be sold.

Larson said he hopes Republicans will vote to pass his bill because it deals with a non-partisan issue where all Wisconsinites would save money.

Larson and Kolste are now looking for co-sponsors.