Rule 69O-149.005(14) currently permits insurers that meet certain conditions to issue multi-year rate guarantees. One such condition is that a rate guarantee cannot apply for greater than 24 months. The Office is proposing to amend the Rule to ...

 

DEPARTMENT OF FINANCIAL SERVICES
OIR – Insurance Regulation

RULE NO.:RULE TITLE:
69O-149.005Reasonableness of Benefits in Relation to Premiums
PURPOSE AND EFFECT: Subsection 69O-149.005(14), F.A.C., currently permits insurers that meet certain conditions to issue multi-year rate guarantees. One such condition is that a rate guarantee cannot apply for greater than 24 months. The Office is proposing to amend the Rule to allow large group insurers, specifically vision and dental insurers, to issue rate guarantees in excess of 24 months.
Subsection (9) of the Rule also states that a premium rate schedule shall not be disapproved on the grounds of inadequacy if certain conditions are met. Some of these conditions may be inconsistent with the Patient Protection and Affordable Care Act of 2010 (“PPACA”). The Office is proposing to amend the Rule to state that the aforementioned conditions shall not apply to the extent that they are pre-empted by PPACA.
SUBJECT AREA TO BE ADDRESSED: Amendment of Rule 69O-149.005, F.A.C.; Reasonableness of Benefits in Relation to Premiums.
RULEMAKING AUTHORITY: 624.308(1), 627.410(6)(b), (d), (e) FS.
LAW IMPLEMENTED: 626.9541(1), 627.410(6)(d), (e), 627.410(7), 627.411(1)(a), (e), 627.9175 FS.
IF REQUESTED IN WRITING AND NOT DEEMED UNNECESSARY BY THE AGENCY HEAD, A RULE DEVELOPMENT WORKSHOP WILL BE HELD AT THE DATE, TIME AND PLACE SHOWN BELOW:
DATE AND TIME: Friday, March 1, 2013, 10:30 a.m.
PLACE: 116 Larson Building, 200 East Gaines Street, Tallahassee, Florida
Pursuant to the provisions of the Americans with Disabilities Act, any person requiring special accommodations to participate in this workshop/meeting is asked to advise the agency at least 5 hours before the workshop/meeting by contacting: Tom Zutell, Office of Insurance Regulation, Phone: [phone], E-mail: [e-mail] If you are hearing or speech impaired, please contact the agency using the Florida Relay Service, 1(800)955-8771 (TDD) or 1(800)955-8770 (Voice).
THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE DEVELOPMENT AND A COPY OF THE PRELIMINARY DRAFT, IF AVAILABLE, IS: Tom Zutell, Office of Insurance Regulation, Phone: [phone], E-mail: [e-mail]
THE PRELIMINARY TEXT OF THE PROPOSED RULE DEVELOPMENT IS NOT AVAILABLE.