The Speed to Market Task Force, an arm of the NAIC executive committee, is supposed to help guide NAIC efforts to modernize the insurance product filing and review processes.
Health insurers are now more interested in filing efficiency than ever because of the need to update existing filings and submit entirely new filings in response to changes related to the Patient Protection and Affordable Care Act of 2010 (PPACA).
America’s Health Insurance Plans (AHIP), Washington, and the Blue Cross and Blue Shield Association, Chicago, have asked the task force to look at the health insurance Rate Review Disclosure Reform rules.
Federal agencies implementing PPACA rate review rules now require every move to increase individual or small group health rates more than 10% to undergo review either by state regulators or federal regulators.
Federal officials have not said whether state officials must collect rate review filings from insurers that are either lowering rates or increasing rates less than 10%.
This summer, members of the task force “uniformly agreed that the decision to collect this information, whether only for rate filings exceeding the federally established 10% threshold or for all health rate filings, is to be made by each individual state; it is not something the task force can force upon a state,” NAIC officials say in a summary of the discussion posted along with other materials posted in connection with the NAIC’s recent fall meeting in National Harbor, Md.
Rather than setting a rule about what states should do, the task force agreed to ask the NAIC staff to create a summary report show how states are handling the rate review disclosure issue.
The NAIC received information from 37 responses. It found that 16 are collecting or plan to collect disclosure forms for all health rate filings; 3 states are not collecting rate review forms; and 18 states are collecting forms only for increases expected to be greater than or equal to 10%.
Some states that responded have sent or are preparing to send bulletins, some have contacted health insurer trade groups, and some are not taking any action to implement the rate review disclosure rules, officials say.