OIR Proposed Rule Hearing Report: Medicare Supplement Rate Collection

On Tuesday, July 1, 2008, the Florida Office of Insurance Regulation (“OIR”) scheduled a public hearing on proposed Rule 69O-149.003(2)(b)4.a. relating to Medicare Supplement Rate Collection.  The hearing notice and complete text of the Rule can be viewed by clicking here.

In 2007, the Florida Legislature allocated funds for the OIR to establish a system to collect Medicare Supplement rates and publish a premium search and comparison tool on the OIR’s consumer Web site.  This tool would allow consumers to shop and compare Medicare Supplemental products from different insurers via the Internet.

The Rule change is being made to adopt the new rate filing collection system that allows this search and comparison tool to work.

The public hearing was not requested by any interested parties and therefore, not held. 

Next, the proposed Rule will proceed to the Florida Financial Services Commission for approval unless there are substantive changes. 

Should you have any questions regarding this matter, please feel free to contact Colodny Fass.

 

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