Office of Insurance Regulation Rulemaking Hearing re Proposed Rule Reasonableness of Benefits in Relation to Premiums for Health Insurance Policies and Annual Rate Certification Procedures 5/23/06
Jan 11, 2007
Yesterday, the Office of Insurance Regulation (OIR) held a rulemaking hearing regarding a proposed rule intended to interpret and implement statutes relating to the reasonableness of benefits in relation to premiums for health insurance policies and Annual Rate Certification procedures, and requires the experience exhibit in the actuarial memorandum to be in an excel document. Attached you will find a copy of the proposed rule. Comments made at the rule hearing included requests for a definition of the term “actuarial relationship” and further clarification of the applicability of the rule to conversion policies. The record will remain open until June 2, 2006, for written comments to this rule. Should you have comments regarding this rule and/or questions or concerns regarding the rule please fee free to notify this office.
Regards,
Katherine A. Scott