MS SB2550

Requires all insurers issuing health insurance policies in Mississippi to file premium rates and risk classifications with the Commissioner of Insurance before use.

Prohibits rate filings containing premium increases from becoming effective until the Commissioner of Insurance issues an approval order.

Directs the Commissioner to consider whether benefits are reasonable relative to premiums charged, previous premium rates, and effects on policyholders when approving or disapproving filings.

Prevents insurers from submitting new rate increase filings for the same policies for at least six months following the effective date of a previously approved increase.

Allows the Commissioner to withdraw approval of previously approved rates after an administrative hearing if benefits are no longer reasonable in relation to premiums charged.