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MO HB891
Bill
Status
2/10/2015
Primary Sponsor
Margo McNeil
Click for details
AI Summary
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Health carriers must file premium rates, risk classifications, and supporting documentation with the Department of Insurance at least 60 days before the effective date, beginning September 1, 2015
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Rate filings must include actuarial justification certified by a qualified Member of the American Academy of Actuaries stating rates are not excessive, inadequate, or unfairly discriminatory
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The director must review proposed rates and make a determination within 30 days of filing; for significant rate increases, a public hearing must be held within 50 days of filing
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Health carriers must notify affected enrollees and policyholders of public hearings on significant rate increases and allow them to testify; carriers must also notify enrollees of the director's final decision within 10 days
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Plan forms, rate filings, and supporting data classified as public records must be posted on the department's website for public access
Legislative Description
Requires every health carrier to file its premium rates and classification of risks with the Department of Insurance, Financial Institutions and Professional Registration for approval
Last Action
Public Hearing Completed (H)
4/22/2015