69O-149.003: Rate Filing Procedures
PURPOSE AND EFFECT: Annually publish the medical trend used by health insurers.
SUMMARY: Medical trend have gone down.
SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
SPECIFIC AUTHORITY: 624.308(1), 624,424(1)(c), 627.410(6)(b), (e) FS.
LAW IMPLEMENTED: 119.07(1)(b), 624.307(1), 626.9541(1), 627.410 FS.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: October 5, 2007, 9:30 a.m.
PLACE: Room 116, Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 days before the workshop/meeting by contacting: Tracie Lambright, Office of Insurance Regulation, E-mail tracie.lambright@fldfs.com. If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Tracie Lambright, Office of Insurance Regulation, E-mail tracie.lambright@fldfs.com
THE FULL TEXT OF THE PROPOSED RULE IS:
69O-149.003 Rate Filing Procedures.
(1) through (5) No change.
(6)(a) The following tables shall apply to filings made pursuant to subsection (5) above.
(b) A company without fully credible data may, at its option, use an annual medical trend assumption not to exceed the values in the following tables for the medical trend assumption used in a complete filing made pursuant to paragraph 69O-149.003(2)(b), F.A.C., including the actuarial memorandum required by Rule 69O-149.006, F.A.C., without providing explicit trend justification.
(c) Use of an annual medical trend assumption exceeding the maximum medical trend in the following tables shall be filed pursuant to subparagraph 69O-149.006(3)(b)18., F.A.C.
(d) The maximum medical trend for medical expense coverage described in Section 627.6561(5)(a)2., F.S., is:
|
Category |
Individual |
Individual |
Group |
Group |
|
|
Without Rx |
With Rx |
Without Rx |
With Rx |
|
Major Medical |
11.5% |
12.0% |
13.0% |
13.5% |
|
Health Maintenance Organizations |
10.5% |
11.0% |
13.0% |
13.5% |
(e) The maximum medical trend for Medicare supplement coverage is:
|
Medicare supplement |
5.5% |
10% |
5.5% |
10% |
Specific Authority 624.308(1), 624.424(1)(c), 627.410(6)(b), (e) FS. Law Implemented 119.07(1)(b), 624.307(1), 626.9541(1), 627.410 FS. History–New 7-1-85, Formerly 4-58.03, 4-58.003, Amended 8-23-93, 4-18-94, 8-22-95, 4-4-02, 10-27-02, 6-19-03, Formerly 4-149.003, Amended 5-18-04, 12-22-05, ________.