Brief Description: Requiring health carriers to report certain information.

Sponsors: By House Committee on Health Care (originally sponsored by Representatives Green, Morrell, Cody, Schual-Berke, Clibborn and Conway; by request of Insurance Commissioner).

House Committee on Health Care
Senate Committee on Health & Long-Term Care

Background:

Health carriers are required to submit an annual report to the Office of the Insurance Commissioner (OIC). The information contained in the annual report is not easily retrievable or accessible by consumers.

Summary:

Health carriers are required to submit information to the OIC each year in a format that will be easier for the public to understand and access. The information includes total number of members, total amount of revenue, total amount of hospital and medical payments, medical loss ratio, average amount of premiums per member per month, and the percent change in the average premium per member per month from the previous year. Additional required information includes total amount of claim adjustment expenses, total amount of general administrative expenses, total amount of the reserves maintained for unpaid claims, total net underwriting gain or loss, carrier's net income after taxes, dividends to stockholders, net change in capital and surplus from the prior year, and total amount of the capital and surplus. The OIC will make the information available to the public through the Internet. The Insurance Commissioner must work with disability carriers to use, as much as possible, information from the annual statement forms already filed.

Votes on Final Passage:

House   98   0
Senate   46   1   (Senate amended)
House   96   1   (House concurred)

Effective: June 7, 2006