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C.L. "BUTCH" OTTER
DEPARTMENT OF INSURANCE
700 West State Street, 3rd Floor
P.O. Box 83720
Boise, Idaho 83720-0043
WILLIAM W. DEAL
|FOR IMMEDIATE RELEASE
September 6, 2011
|CONTACT: Tricia Carney
Company rate filing requirements outlined
BOISE ID (September 6, 2011) – The Idaho Department of Insurance has issued a new bulletin outlining requirements for health insurance carriers to follow when filing new rates or rate changes to ensure compliance with the Patient Protection and Affordable Care Act (PPACA).
“Idaho’s effective rate review process improves transparency for consumers and allows for public comment,” says Department Director Bill Deal.
As of September 1, 2011, insurers who offer individual and small employer health benefit plans must submit rate filings that include information justifying their rates. The Department will review this information and make it available to the public for review.
Once the Department has determined that the rates are reasonable, information will be posted to the website and shared with the Department of Health and Human Services.
Department of Insurance Bulletin No. 11-07 is available on the Department’s website, www.doi.idaho.gov.
About the Department of Insurance
The Idaho Department of Insurance has been regulating the business of insurance in Idaho since 1901. The mission of the Department is to equitably, effectively and efficiently administer the Idaho Insurance Code and the International Fire Code. For more information, visit www.doi.idaho.gov.