12649205, 69O-149.005 - Florida Administrative Rules, Law, Code, Register

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Florida Department of State and Division of Library and Information Services

Notice: 12649205

Notice of Development of Rulemaking

Department:

DEPARTMENT OF FINANCIAL SERVICES

Division:

OIR – Insurance Regulation

Chapter:

FILING OF FORMS AND RATES FOR LIFE/HEALTH INSURANCE

Overview

RULE:

69O-149.005

Reasonableness of Benefits in Relation to Premiums

PURPOSE:

Rule 69O-149.005(14) currently permits insurers that meet certain conditions to issue multi-year rate guarantees.  One such condition is that a rate guarantee cannot apply for greater than 24 months.  The Office is proposing to amend the Rule to allow large group insurers, specifically vision and dental insurers, to issue rate guarantees in excess of 24 months.  

Section (9) of the Rule also states that a premium rate schedule shall not be disapproved on the grounds of inadequacy if certain conditions are met.  Some of these conditions may be inconsistent with the Patient Protection and Affordable Care Act of 2010 (“PPACA”).  The Office is proposing to amend the Rule to state that the aforementioned conditions shall not apply to the extent that they are pre-empted by PPACA.

SUBJECT:

Amendment of Rule 69O-149.005; Reasonableness of Benefits in Relation to Premiums.

RULEMAKING AUTHORITY:

624.308(1), 627.410(6)(b), (d), (e), FS.

LAW:

626.9541(1), 627.410(6)(d), (e), 627.410(7), 627.411(1)(a), (e), 627.9175, FS.

PRINT PUBLISH DATE:

2/15/2013 Vol. 39/32

RELATED STATUTES
AND LAWS:

624.308(1), 627.410(6)(b), (d), (e), FS., 626.9541(1), 627.410(6)(d), (e), 627.410(7), 627.411(1)(a), (e), 627.9175, FS.

OVERSIGHT COMMITTEE:

Joint Administrative Procedures Committee
Florida Administrative Law Central Online Network (F.A.L.C.O.N.)

RELATED COURT CASES:

Division of Administrative Hearings

FEDERAL eRULEMAKING
WEB PORTAL:

Regulations.gov

HOW TO LINK TO
THIS NOTICE:

http://flrules.org/gateway/ruleno.asp?id=69O-149.005&PDate=2/15/2013&Section=1

REFERENCE MATERIALS:

No reference(s).

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