Have you ever been told as a kid you couldn’t have something?
Insurance companies active in the small group and individual health market are required to file their rates with the Texas Department of Insurance. The filing requires submission of loss information by line of business, reinsurance reimbursements and other data for TDI’s scrutiny.
Wouldn’t you like to have this information too? But alas, with great sorrow, we pass along to our three readers (Tom, Dick and Harry) disappointing news:
“Information Not Releasable to the Public Unless Authorized by Law: This information has not been publicly disclosed and may be privileged and confidential. It is for internal government use only and must not be disseminated, distributed, or copied to persons not authorized to receive the information. Unauthorized disclosure may result in prosecution to the full extent of the law.”
This all revolves around Senate Bill 1296, passed in the 87th Legislature, Regular Session (2021). The bill requires TDI to adopt rules to establish a process for reviewing rates for individual and small group market health benefit plans.
Rate filings are intended to determine compliance with the Affordable Care Act (ACA) insurance market rating reforms beginning with 2023 plan year filings.
Check out TDI’s Rate Review Template here.