Bill > SB476

This bill aims to enhance consumer access to health care cost information by expanding the authority of the insurance department and the department of justice to receive and utilize health care data. Specifically, it allows the insurance department to access complete health care data sets for regulatory purposes and to report on health care delivery and costs, while ensuring this data is protected under the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and related federal regulations. The bill also empowers the insurance commissioner to request more comprehensive information from health carriers regarding coverage history, health costs, cost drivers, and financing, with a focus on understanding market dynamics and premium trends. This includes requiring carriers to supply data on prescription drug rebates and the types of coverage purchased by individuals and employers geographically. The commissioner will now hold an annual public hearing to discuss factors influencing health insurance premiums and health care costs, with the goal of increasing transparency for consumers and policymakers, and will produce an annual report detailing these findings. Furthermore, the bill mandates that the insurance department actively work to improve transparency in health insurance to help consumers make informed choices and grants the department the authority to receive health data from any state agency for regulatory and cost analysis purposes, again with strict adherence to HIPAA.