CT SB00879

Establishes minimum state medical loss ratios (ratio of incurred claims to earned premiums) of 80% for individual health insurance policies and 85% for group health insurance policies for small employers, effective January 1, 2018.

Requires insurers and health care centers to pay rebates to insureds, subscribers, or enrollees if policies fail to meet the applicable state medical loss ratio during any period for which premium payment was made.

Mandates that insurers and health care centers include written notice with each application for individual or group health insurance coverage disclosing the applicant's state and federal medical loss ratios as reported in the most recent Consumer Report Card on Health Insurance Carriers in Connecticut.

Defines "state medical loss ratio" to include only medical expenses for services and supplies provided to enrollees, excluding stop loss coverage, reinsurance, educational programs, and other cost containment programs.

Authorizes the commissioner to adopt regulations to implement the provisions of the act.