SB 2648 Summary

• Defines "small employer" and "small group" as employers with 1-50 eligible employees (expanding to 1-100 employees beginning January 1, 2016) and applies the same definition across multiple insurance code sections.

• Authorizes the Commissioner of Insurance to approve or disapprove all premium rates for individual and small group accident and sickness insurance policies based on criteria established by state or federal law, including whether rates are excessive, unjustified, or unfairly discriminatory.

• Requires the Commissioner to conduct a hearing within 30 days if an insurer requests one in writing following disapproval of a premium rate change.

• Applies premium rate review requirements to 10 categories of health insurance policies including individual/small group policies, HMO policies, long-term care policies, cancer policies, and basic group health policies for small employers.

• Takes effect July 1, 2012.