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 ...

 

FINANCIAL SERVICES COMMISSION
Office of Insurance Regulation

RULE NO: RULE TITLE
69O-149.037: Calculation of Premium Rates
PURPOSE AND EFFECT: Pursuant to Sections 627.410(6)(a) and 627.6699(6), Florida Statutes, and the existing language of paragraph 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).
SUMMARY: The proposed rule will require all small group rates to be filed electronically with the Office, on a 2-50 life basis, using new software referred to as the Small Employer Rate Collection System (SERCS).
SUMMARY OF ESTIMATED REGULATORY COSTS: No Statement of Estimated Regulatory Cost was prepared.
Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.
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.
IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE HELD AT THE DATE,TIME AND PLACE SHOWN BELOW(IF NOT REQUESTED, THIS HEARING WILL NOT BE HELD):
TIME AND DATE: January 16, 2007, 9:30 a.m.
PLACE: Room 116, Larson Building, 200 East Gaines Street, Tallahassee, Florida
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Diane Bradford, Life and Health Product Review, Office of Insurance Regulation, E-mail: [e-mail].

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, __________________.

NAME OF PERSON ORIGINATING PROPOSED RULE: Diane Bradford, Life and Health Product Review, Office of Insurance Regulation.
NAME OF SUPERVISOR OR PERSON WHO APPROVED THE PROPOSED RULE: Richard Robleto, Deputy Commissioner, Office of Insurance Regulation.
DATE PROPOSED RULE APPROVED BY AGENCY HEAD: November 20, 2006.
DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAW: September 22, 2006.