Brief Description: Granting the Insurance Commissioner the authority to review and approve individual health benefit plan rates.

Sponsors: Representatives Schual-Berke, Morrell, Cody, Appleton, Murray and Kagi; by request of Insurance Commissioner.

Hearing Date: 1/17/06

Staff: Dave Knutson (786-7146).

Background:

Health carriers file a notice of rates for its individual health benefit plans with the Insurance Commissioner prior to use. The Commissioner is not authorized to disapprove or impede the implementation of the rates filed by health carriers.

Summary of Bill:

The Insurance Commissioner is authorized to review and approve individual health benefit plan rates increases. In reviewing rates, the Commissioner is authorized to take into consideration the Health carriers surplus when reviewing requests for a rate increase.

Appropriation: None.

Fiscal Note: Not requested.

Effective Date: The bill takes effect 90 days after adjournment of session in which bill is passed.