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2014 SESSION

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HB 1176 Health insurance; notice of increase in premium or deductible.

Introduced by: R. Lee Ware, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED HOUSE: (all summaries)

Health insurance; notice of increase in premium or deductible. Requires health insurers, including health maintenance organizations and corporations providing accident and sickness subscription contracts, to provide written notice of intent to increase the annual premium or deductible in conjunction with the proposed renewal of coverage under any individual health insurance policy, contract, or plan. Such notices are required to be given not less than 75 days prior to the proposed renewal of coverage; however, the bill provides that the deadlines for the provision of notices may be adjusted by the State Corporation Commission's Bureau of Insurance to account for delays in product or rate approval that result from filing requirements established by the U.S. Department of Health and Human Services. The requirement begins with policy, contract, or plan year renewals beginning on or after January 1, 2015. Currently, notices of premium increases are required to be given when a premium increase exceeds 35 percent, and the notices are required to be given at least 60 days prior to the proposed renewal.


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