COL INS Rate Filing Submissions

On Feb. 17, COL INS issued amendment to rate filing submissions.

  • COL INS issued proposed amended Regulation 4-2-11 re rate filing submissions.
  • Rate Filing Submissions
  • Amends COL INS 702-4-2-11 to include limited benefit health insurance, dental plans.
  • Now applicable to carriers offering disability income; paid family, medical leave.
  • Amended general rate filing requirements for all rate filings, provided for filing requirements for Medicare supplement, dental rates for both new, existing products.
  • Replaced current appendices with Appendix A; determination of credibility weights in case of nationwide experience not reaching full credibility in most recent 3 years.
  • Consultation
  • Comments on proposed amended regulation are due by Feb. 27, 2024.
  • Apr. 30, 2024 COL INS Rule Hearing
  • On Apr. 30, 2024, COL INS scheduled rule hearing for May 30; comments due Jun. 4.
  • May 2024 COL INS State Register
  • On May 10, 2024, COL INS published notice of rule hearing in the State register.
  • Jun. 2024 COL INS Final Rule
  • On Jun. 11, 2024, COL INS published final version of Amended Regulation 4-2-11.
  • Ensures health insurance rates are not excessive, inadequate, unfairly discriminatory.
  • Establishes requirements for rate filings for limited benefit plans, excess/stop loss insurance, sickness and accident insurance, disability income, other health plans.
  • Amendments to regulation on rate filing submissions is effective as of Jul. 30, 2024.

Regulators COL INS
Entity Types Ins
Reference RF, 6/11/2024; COL SR Vol. 47 No. 9, 5/10/2024; Nt, 4/30/2024; RF 4-2-11, 2/17/2024; Citation: COL INS 702-4-2-11;
Functions Actuarial and Valuation; Compliance; Financial; Legal; Operations; Product Administration; Reporting; Underwriting
Countries United States of America
Products Dental; Insurance; Insurance-Health
Regions Am
Rule Type Final
Rule Date 2/17/2024
Effective Date 7/30/2024
Rule Id 201624
Linked to N/A
Reg. Last Update 6/11/2024
Report Section US Insurance

Last substantive update on 06/13/2024