Dan Roach Did Not Vote on this Legislation.
Title: Health Insurance Rate Oversight
Signed by Governor Chris Gregoire
Title: Health Insurance Rate Oversight
Vote to pass a bill that allows the Insurance Commissioner to review and disapprove rate increases for individual health insurance plans.
-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.
Title: Health Insurance Rate Oversight
Vote to pass a bill that allows the Insurance Commissioner to review and disapprove rate increases for individual health insurance plans.
- 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.
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.