CT HB06550

Requires rate filings for individual health insurance policies to include actuarial memorandums with pricing assumptions, claims experience, premium rates, and loss ratios from policy inception.

Changes rate approval process so rates become effective only after commissioner approval, rather than automatically after 30 days.

Eliminates provisions allowing insurers to use loss ratio guarantees to justify rates without commissioner approval.

Prohibits insurers from moving insured individuals to substandard classifications after issuance, increasing rates based on individual claims history or health status, or using short-term anxiety medication use as an underwriting factor without underlying medical diagnosis.

Maintains restrictions on Medicare supplement policies to prevent rating based on age, gender, claims history, or medical condition.