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.
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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%.