Premium increase monitoring
PPACA requires states to establish a process for reviewing increases in health plan premiums and requires plans to justify increases. It also requires states to recommend whether certain plan should be excluded from the Exchange based on unjustified premium increases.
In August 2010, the Arkansas Insurance Department was awarded a $1 million grant to begin planning the premium review process. In September 2011, AID was awarded $3,874,098 in the second cycle of the federal rate review grants.
Federal Documents
-
Federal Rate Review Rule
PDF
-
Grant Award Press Release
Word
HHS press release announcing the 45 states, including Arkansas, that received $1 million grants
-
Grant Solicitation
PDF
Federal grant solicitation for states requesting some of the $51 million the federal government has made available to help states develop or enhance its process of reviewing and approving, disapproving, or modifying health insurance premium requests. Successful states will receive $1 million during the first round.
-
HHS Fact Sheet: Rate Review
-
Proposed regulation: Rate increase disclosure and review
-
Rate Review Cycle II Grant Solicitation
PDF
Arkansas Documents
-
AID names Nicholas to oversee Premium Review
Arkansas Insurance Department press release announcing Dr. Lowell Nicholas as the agency's insurance deputy commissioner overseeing the Health Insurance Rate Review Division.
-
AID's Rate Review Website
-
AR Insurance Department: Rate Review Summary
Word
This summary, written by the Arkansas Insurance Department, describes the state's responsibilities for reviewing and approving insurance rates under the Affordable Care Act. It also summarizes potential state regulations the Department is considering to ensure it complies with the federal law.
-
Arkansas's Initial Proposal for Premium Rate Review Grant
PDF
Application for $1 million grant to help the state improve the health insurance rate review and reporting process
-
Arkansas's Rate Review Cycle II Application
PDF
For a summary of the project and a description of the budget, see the items below.
-
Arkansas's Rate Review Cycle II: 1. Project Narrative
PDF
-
Arkansas's Rate Review Cycle II: 2. Budget Narrative
PDF
-
Rate Review Abstract-Cycle I
PDF
The Arkansas Insurance Department's one-page description of its rate review grant proposal.
Other States' Documents
-
California Rate Monitoring
The California Department of Insurance announcement that all proposed rate increases will reviewed by independent actuaries. The announcement came after outside actuaries found that one insurer had attempted to increase rates by 50% more than state law allows.
-
New York Governor Memo
PDF
A memo from the Governor of New York outlining his new program for monitoring premium increases.
-
New York Governor monitoring program announcement
Press release describing legislation passed in June 2010 giving the New York state insurance department the authority to review and approve health insurance premium increases before they take effect.
-
New York Program Bill 278
PDF
Legislation passed in June 2010 giving the New York Department of Insurance the authority to review and approve health insurance premium increases before they take effect.
Other Documents
-
KFF: State Rate Review Efforts
This December 2010 report examines the state laws and regulations governing the review process for health insurance rates.