Signed by Governor Chris Gregoire

Vote Smart's Synopsis:

Vote to pass a bill that allows the Insurance Commissioner to review and disapprove rate increases for individual health insurance plans.

Highlights:

-Requires insurance plan rates effective after July 1, 2008 to be filed with the Insurance Commissioner sixty days before changes to individual health benefit plans go into effect (Secs. 1-3). -Provides that the Insurance Commissioner's authority to disapprove rate changes expires January 1, 2012 (Sec. 7). -Requires the office of the Insurance Commissioner to study the feasibility of entering into a multistate health insurance plan compact and report recommendations to the legislature by December 1, 2008 (Sec. 8). -Requires insurance companies that decline a higher percentage of applicants to pay out a greater percentage for claims than companies that deny a smaller percentage of applicants by establishing a sliding-scale loss ratio requirement (Sec. 4). -Substitute offered by the Senate Health and Long-Term Care Committee.

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that allows the Insurance Commissioner to review and disapprove rate increases for individual health insurance plans.

Highlights:

- Requires a sixty day waiting period after rates are filed with the commissioner before changes to individual health benefit plans go into effect. If the Insurance Commissioner intends to challenge a rate increase, he or she must do so during this time period (sec. 1). - The insurance commissioner's ability to disapprove rate changes expires January 1 , 2012 (sec. 7). - Requires insurance companies that decline a higher percentage of applicants to pay out a greater percentage for claims than companies that deny a smaller percentage of applicants by establishing a sliding-scale loss ratio requirement (sec 4). - Substitute offered by the Senate Health and Long-Term Care Committee.

Full Bill Text