211 CMR 41.10 - Review of Policy Forms and Rate Filings and Notification to Carriers
(1)
Policy Forms.
The Commissioner shall notify a Carrier if he or she determines that the policy
form filing submitted pursuant to
211 CMR
41.09 does not comply with applicable
Massachusetts laws and regulations or otherwise fails to comply with M.G.L. c.
176M or
211 CMR
41.09. Upon such notice, a Carrier shall
amend and resubmit its policy form filing for review within the time period
specified by the Commissioner.
(2)
Rate Filings for Closed Guaranteed Issue Health Plans.
(a) The Commissioner shall notify a Carrier
if he or she determines that the Rate Filing does not comply with
211 CMR 41.00, contains
discrepancies or inaccuracies, or otherwise is incomplete. Upon such notice, a
Carrier shall amend and resubmit its Rate Filing within the time period
specified by the Commissioner.
(b)
After the Commissioner has computed an Average Adjusted Composite Rate for each
type of Closed Guaranteed Issue Health Plan, and has calculated the standard
deviation for the submitted Adjusted Composite Rates, the Average Adjusted
Composite Rate and Standard Deviation will be final and will not be changed if
any Carrier's rates are modified as a result of further review by the
Commissioner or a Proceeding.
(c)
The Commissioner shall, no later than June 15th of
each year, issue to a Carrier his or her determination of whether the Carrier 's
Rate Filing is subject to further review. The Rate Filing will be subject to
further review if the Commissioner determines that the Adjusted Composite Rate
filed by a Carrier exceeds the Average Adjusted Composite Rate for that type of
Closed Guaranteed Issue Health Plan by more than two Standard Deviations and
the proposed Adjusted Composite Rate also exceeds 110% of the Carrier's current
Adjusted Composite Rate for the plan.
(d) If the Commissioner issues a notice to a
Carrier by June 15th that its Rate Filing is not
subject to further review, the Carrier shall implement the filed rates the
following December 1st.
(3)
Rate Filings for Closed
Plans. The Commissioner shall notify the Carrier if its Rate
Filing does not comply with
211 CMR 41.00, contains
discrepancies or inaccuracies, or otherwise is incomplete. Upon such notice, a
Carrier shall amend and resubmit its Rate Filing within the time period
specified by the Commissioner. The Commissioner's review of Rate Filings for
Closed Plans will proceed in accordance with the applicable provisions of the
Carrier 's licensing statutes.
Notes
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