AZ SB1148

Reduces the maximum variance in health insurance premium rates for small employers from 60 percent to 50 percent from the index rate for plans with the same or similar coverage, family size, and geographic area.

Requires accountable health plans to apply demographic adjustments consistently across all small employers and limits geographic rating areas to counties or areas with identical first three zip code digits, whichever is smaller.

Caps annual premium rate increases for small employers at the sum of base premium rate changes, plus 15 percentage points, plus any adjustments for coverage, family size, or demographic changes.

Mandates full disclosure to small employers of rating practices, how claims costs affect their rates, and the plan's rights to modify premiums and factors affecting rate changes.

Requires accountable health plans to file annual actuarial statements certifying compliance with rating regulations and the actuarial soundness of rating methods, with base and index rates filed annually for public inspection upon request.