Insurance-Related Meetings: Month of July

Jun 30, 2008

 

Insurance-Related Meetings for the Month of July

 

Week of June 30-July 4

 

Tuesday, July 1

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding proposed revisions to the following Rule that would accommodate the rate filing collection system currently being developed for Medicare supplement products:

Date:  Tuesday, July 1, 2008
Time:  2:00 p.m.
Place:  142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Wednesday, July 2

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding the following Rules:

The proposed Rules would establish a framework for evaluating rate increases for long-term care insurance to ensure that these increases are not excessive.

Date:  Wednesday, July 2, 2008
Time:  9:00 a.m.
Place:  142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Week of July 7-11

 

Wednesday, July 9

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding the following Rule:

  • 69O-164.040: Determining Reserve Liabilities for Pre-Need Life Insurance

The purpose of this Rule is to recognize the inadequacy of the 2001 Commissioners Standard Ordinary Life Valuation Mortality Table for use in determining the minimum standard of valuation and the minimum standard non-forfeiture value.  It also is to require the continued use of the 1980 Commissioners Standard Ordinary Life Valuation Mortality Table in determining the minimum standard of valuation and the minimum standard non-forfeiture value. 

Date:  Wednesday, July 9, 2008
Time:  9:30 a.m.
Place:  142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Week of July 14-18

 

Monday, July 14

The Agency for Health Care Administration, Medicaid has issued a Notice of Proposed Rule Hearing regarding the following Rule:

  • 59G-4.070: Durable Medical Equipment and Supplies

The purpose of the amendment to this Rule is to incorporate by reference the Florida Medicaid Durable Medical Equipment and Medical Supply Services Coverage and Limitations Handbook, July 2008. The revised handbook includes the policy and procedure code changes mandated by the federal Health Insurance Portability and Accountability Act, revised policies mandated by CS/HB 7083ER, and updated service requirements. The handbook also contains the policies for certain products that were transferred from the Medicaid Prescribed Drug Program to the Medicaid Durable Medical Equipment and Medical Supplies Program in 2005. 

Date:  Monday, July 14, 2008
Time:  11:00 a.m.
Place:  Agency for Health Care Administration, 2727 Mahan Drive, Building 3, Conference Room B, Tallahassee, Florida

 

Tuesday, July 15

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding the following Discount Medical Plan Organization (“DMPO”) Rule:

The purpose of the proposed amendment is to adopt the form for the Annual Report of the DMPO, which includes the DMPO Annual Report Instructions.  Each DMPO must file an annual report with the Florida Office of Insurance Regulation (“OIR”), within three months after the end of each fiscal year. Such reports must be on forms prescribed by the Florida Financial Services Commission.

Date:  Tuesday, July 15, 2008
Time:  9:30 a.m.
Place:  142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Wednesday, July 16

The Florida Department of Financial Services, Division of Consumer Services has issued Notice(s) of Proposed Rule Hearing regarding the following My Safe Florida Home Program (“MSFH”) Rules:

  • 69J-7.006: Grants Directly from the Department to Homeowners
  • 69J-7.007: Grants-Medical Condition Exception

Rule 69J-7.006 establishes procedures for MSFH grant application and award of grants to non-low income grant applicants and sets forth interpretation of certain grant eligibility criteria and interpretation as to the intended effect of changes made by to MSFH by the 2007 Florida Legislature.  These changes concern homeowners previously issued grants or previously advised that they were eligible for a grant.  Both low income and non-low income persons may receive grants, but low-income applicants are subject to different requirements. This Rule applies only to non low-income applicants.

Date:  Wednesday, July 16, 2008
Time:  9:30 a.m.
Place:  142 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Week of July 21-25

 

Wednesday, July 23

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding the following small group carriers Rule:

  • 69O-149.041: Marketing Communication Material and Marketing Guidelines

This Rule creates an unfair trade practice by prohibiting an insurer from treating certain sized small groups differently than it treats other sized small groups.  

Date:  Wednesday, July 23, 2008
Time:  9:30 a.m.
Place:  116 Larson Building, 200 East Gaines Street, Tallahassee, Florida

 

Friday, July 25

The Florida Department of Financial Services, Office of Insurance Regulation has issued a Notice of Proposed Rule Hearing regarding the following Rules:

  • 69O-149.205: Indemnity Standard Risk Rates
  • 69O-149.206: Preferred Provider/Exclusive Provider Standard Risk Rates
  • 69O-149.207: Health Maintenance Organization Standard Risk Rates

The OIR is required to determine standard risk rates using reasonable actuarial techniques and standards.  According to Florida law, the standard risk rates must be determined as follows:

  1. Standard risk rates for individual coverage must be determined separately for indemnity policies, preferred provider/exclusive provider policies, and health maintenance organization contracts.
  2. The OIR shall survey insurers and health maintenance organizations representing at least an 80 percent market share, based on premiums earned in the state for the most recent calendar year, for each of the categories specified in # 1.
  3. Standard risk rate schedules must be determined, computed as the average rates charged by the carriers surveyed, giving appropriate weight to each carrier’s statewide market share of earned premiums.
  4. The rate schedule shall be determined from analysis of the one county with the largest market share in the state of all such carriers.
  5. The rate for other counties must be determined by using the weighted average of each carrier’s county factor relationship to the county determined in # 4.
  6. The rate schedule must be determined for different age brackets and family size brackets.

In compliance with this statutory mandate the OIR conducted a survey, calculated the rate schedules and, by this Rule amendment, publishes the results.

The standard risk rates are used by the health insurers in setting their conversion rates.  The maximum a health insurer can charge for a conversion policy is 200 percent of the standard risk rate.

Date:  Friday, July 25, 2008
Time:  9:30 a.m.
Place:  116 Larson Building, 200 East Gaines Street, Tallahassee, Florida

The Florida Workers Compensation Joint Underwriting Association will hold an Investment Committee meeting on Friday, July 25, 2008 at 10:00 a.m. via teleconference.  There is no further information available at this time.

 

Week of July 28-August 1

 

Monday, July 28

The Florida Commission on Hurricane Loss Projection Methodology will hold a meeting on Monday, July 28, 2008 from 9:00 a.m. through 1:00 p.m. to discuss and receive input on CS/SB 2860, which was passed during the 2008 Legislative Session.  There is no further information available at this time. 

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.  

 

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