MO HB1711

Health carriers must file premium rates, risk classifications, and supporting information with the Department of Insurance 60 days before the effective date, beginning July 1, 2012

Rate filings must include product form numbers, actuarial justification, and detailed information on all factors affecting premiums, with certification by a qualified actuary from the American Academy of Actuaries

The director must review proposed rates within 30 days and determine whether they are excessive, inadequate, or unfairly discriminatory based on factors including loss experience, expenses, trend projections, and reserve adequacy

For significant rate increases, health carriers must notify affected enrollees of the proposed increase with details on contributing factors, and the director must hold a public hearing within 30 days to review public comments before approving or denying the increase

Enrollees or policyholders who pay all or a majority of premiums may appeal the director's decision if the rate increase is 8% or greater for same coverage or 20% or greater for additional coverage