Bill > H944

This bill amends the existing law to require health insurance carriers offering small group plans to file their small group product base rates and any changes to small group rating factors with the commissioner by July 1 of the preceding year. The commissioner is required to approve, modify, or disapprove the proposed changes, with the ability to only modify or disapprove changes that are excessive, inadequate, or unreasonable in relation to the benefits charged. The commissioner must also consider the affordability of the plans and whether the carrier has implemented effective strategies to enhance affordability, taking into account various factors such as the carrier's efforts to control administrative costs, the impact on lower-income individuals, and trends in medical and health insurance costs.

Business and Industry, Health and Social Services

https://malegislature.gov/Bills/193/H944