Published on: 3882733. This is the Final Public Hearing on the adoption of proposed amendments to Rule 69O-149.037; Calculation of Premium Rates, Florida Administrative Code, published on December 22, 2006 in Vol. 32, No. 51, of the Florida Administrative Weekly. No notice of change was published.
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THE FULL TEXT OF THE PROPOSED RULE IS:
69O-149.037 Calculation of Premium Rates.
(1) through (3) No change.
(4) Rate filing requirements –
(a) No change.
(b) SERCS CARES. Small group standard and basic product rates must be filed on a 2-50 life basis using the Small Employer Rate Collection System (SERCS) Rate Collection Systems (CARES), Form OIR-B2-SERCSCARES (Rev. 6/19/06 9/19/05), which is hereby adopted and incorporated by reference. These forms are available at: https://iportal.fldfs.com/ifile/fass/work/questions/sercs_upload.asp https://iportal.fldfs.com/cares/Product/Product.asp.
(5) through (8) No change.
Specific Authority 624.308(1), 624.424(1)(c), 627.6699(17) FS. Law Implemented 627.410, 627.6692, 627.6699(3), (6), (12)(e), (13), (13)(i) FS. History–New 3-1-93, Amended 11-7-93, 5-11-94, 4-23-95, 8-4-02, 6-19-03, Formerly 4-149.037, Amended 7-6-06, __________________.
; April 3, 2007, 9:00 a.m., during a regular meeting of the Financial Services Commission.; Cabinet Meeting Room, Lower Level, The Capitol, Tallahassee, Florida.
Published on: 3218477. Pursuant to Sections 627.410(6)(a) and 627.6699(6), Florida Statutes, and the existing language of Rule 69O-149.037(4)(b), Florida Administrative Code, small employer group standard and basic product rates must be filed electronically with the Office of Insurance Regulation (Office), on a 2-50 life basis, using the Rate Collection Systems(CARES).
Published on: 687553. Pursuant to Sections 627.410(6)(a) and 627.6699(6), Florida Statutes, and the existing language of Rule 69O-149.037(4)(b), Florida Administrative Code, small employer group standard and basic product rates must be filed electronically with the Office of Insurance Regulation (Office), on a 2-50 life basis, using the Rate Collection Systems(CARES). The proposed rule will require all small group rates to be filed electronically with the Office, on a 2-50 life bases, using new software referred to as the Small Employer Rate Collection Systems (SERCS).
Published on: 36586. The proposed rules: (1) require insurers to submit small group rate filings to the Office of Insurance Regulation that comply with the revised maximum 5-year age bands; (2) clarify experience to be included in the biennial reporting requirements regarding the underwriting impact of using +/- 15% in the small group market; and (3) specify how appropriate COBRA rates should be determined.