No Public Testimony Given at Health Insurer Rate Filing Procedures Rule Development Workshop on 69O-149.003, F.A.C.
Apr 17, 2012
A Rule Development Workshop on proposed amendments to Rule 69O-149.003 relating to Rate Filing Procedures was held this morning, April 17, 2012, at the Florida Office of Insurance Regulation in Tallahassee.
No public testimony was offered on the proposed revisions, among which would facilitate updating medical trend tables on a more timely basis.
The proposed Rule is not related to federal medical-related changes, nor is that the intent of the proposed amendments.
The record will be left open for an additional 10 days.
The Rule Development Notice is reprinted below.
Should you have any questions or comments, please contact Colodny Fass.
Notice of Development of Rulemaking
DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation
RULE NO.: RULE TITLE:
69O-149.003: Rate Filing Procedures
PURPOSE AND EFFECT: Amends Rule 69O-149.003, Florida Administrative Code.
SUBJECT AREA TO BE ADDRESSED: Pursuant to Section 627.410(6)(a), Florida Statutes, health insurers seeking to issue or renew health insurance policy forms in the State of Florida must submit documentation (rating manuals, rating schedules, change in rating manual, change in rating schedule, etc.) to the Office demonstrating that the proposed policy or policy renewal’s premium rates are reasonable in relation to the benefits provided. Rule 69O-149.003, Florida Administrative Code, provides insurers with detailed rate filing procedures.
Rule 69O-149.003(5), Florida Administrative Code, allows insurers without fully credible data to make streamlined rate increase filings with the Office that are simpler in format and content than the full filing format defined in Rule 69O-149.003(2), Florida Administrative Code. Insurers who qualify and elect to file streamlined rate increase filings with the Office are limited to rate increases equal to the maximum annual medical trend for medical expense coverage or the maximum annual medical trend for Medicare Supplement coverage. The current version of paragraph 69O-149.003(6), Florida Administrative Code, includes tables which display the applicable maximum annual medical trend. The proposed amendments to Rule 69O-149.003, Florida Administrative Code, deletes the aforementioned maximum annual medical trend tables from the text of the rule and provides the URL of the Office’s website on which the Office will update the tables as needed.
Paragraph 69O-149.003(5)(a), Florida Administrative Code, defines the qualifications that insurers must meet to make streamlined rate increase filings. The current version of paragraph 69O-149.003(5)(a), Florida Administrative Code, allows Medicare Supplement providers with fewer than 1,000 Florida policyholders to make streamlined rate increase filings with the Office. The proposed amendments to paragraph 69O-149.003(5)(a), Florida Administrative Code, limit the use of streamlined rate increase filings to Medicare Supplement providers with fewer than 1,000 policyholders nationwide rather than to 1,000 policyholders in Florida.
RULEMAKING AUTHORITY: 624.308(1), 624.424(1)(c), 627.410(6)(b), (e) FS.
LAW IMPLEMENTED: 119.07(1)(b), 624.307(1), 626.9541(1), 627.410 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE NOTICED IN THE NEXT AVAILABLE FLORIDA ADMINISTRATIVE WEEKLY.
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Linda Ziegler, Office of Insurance Regulation, E-mail Linda.Ziegler@floir.com
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS AVAILABLE AT NO CHARGE FROM THE CONTACT PERSON LISTED ABOVE.
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