As California's insurance commissioner, he learned the problems families face when trying to buy health coverage.
Each year, the companies have to tell the insurance commissioner how much profit they expect from doing business in the state.
From 1911 until 1915, he served as Wisconsin's insurance commissioner.
But, he added, "They have to get the approval of the insurance commissioner."
Hayes was a judge after his time as insurance commissioner ended.
But the number can be less than one million if the insurance commissioner approves.
The insurance commissioners have already specified the design of the standard policies.
California's insurance commissioner said the state had taken over management because the company was in a "hazardous condition."
New Jersey's insurance commissioner has already acted to lower some high rates.
This means the insurance commissioner will have to make a decision based on an incomplete examination.
