OK SB663

Creates the Oklahoma Individual Market Consumer Awareness Act requiring the Insurance Department to post health insurance rate filings and consumer-friendly summaries on its website, organized by insurer name, policy type, and filing date.

Establishes a 60-day public comment period for proposed rate changes, allowing consumers to submit comments by mail, email, and potentially at public meetings convened by the Insurance Commissioner.

Directs the Insurance Department to investigate complaints about specific rate increases during the comment period to determine compliance with actuarial principles and justify the proposed increases.

Requires the Insurance Department to enhance consumer education by posting health insurance market reports and educational materials on its website to inform Oklahoma residents.

Effective date: November 1, 2011.