FINAL BILL REPORT
HB 1303
This analysis was prepared by non-partisan legislative staff for the use of legislative members in their deliberations. This analysis is not a part of the legislation nor does it constitute a statement of legislative intent. |
C 69 L 11
Synopsis as Enacted
Brief Description: Concerning the insurance commissioner's authority to review and disapprove rates for certain insurance products.
Sponsors: Representatives Jinkins, Kelley, Van De Wege, Liias and Reykdal; by request of Insurance Commissioner.
House Committee on Health Care & Wellness
Senate Committee on Health & Long-Term Care
Background:
The Office of the Insurance Commissioner (OIC) has the authority to regulate health insurance companies in Washington. In 2008 the OIC was granted the authority to review insurance rates in the individual market. Individual market insurers are required to file their rates with the OIC. The OIC may disapprove the rates if they are unreasonable in relation to the benefits in the agreement. The OIC also reviews individual market insurers for compliance with statutory requirements such as adjusted community rating and medical loss ratios (for purposes of determining remittances to the Washington State Health Insurance Pool).
The OIC's authority to review individual market rates expires on January 1, 2012.
Summary:
The expiration date on the OIC's authority to review individual market rates is repealed.
Votes on Final Passage:
House | 93 | 1 | |
Senate | 37 | 9 |
Effective: | July 22, 2011 |