CT| The Connecticut Insurance Department’s Bulletin HC-81-25, outlines comprehensive requirements for health insurance rate filing submissions by carriers operating in Connecticut. The Bulletin mandates that all rate filings comply with both state statutes and federal regulations, including those under the Patient Protection and Affordable Care Act (PPACA). It specifies detailed actuarial and documentation requirements, addresses the handling of federal subsidy assumptions, incorporates state cost growth benchmarks, and emphasizes transparency by making all filings publicly available for review and comment. The Bulletin also requires annual certifications for mental health parity compliance and mandates that all supporting materials be submitted in specified formats through the SERFF system.
Key Points:
- Rate filings must adhere to both Connecticut statutes and federal PPACA regulations, including detailed actuarial justifications and documentation requirements.
- Carriers must submit 2026 rate filings assuming the extension of enhanced federal subsidies under ARPA, but also provide adjustment factors if subsidies are not extended.
- The state’s Cost Growth Benchmark will be considered in rate reviews, and filings must include comprehensive historical and projected data, trend analyses, and supporting actuarial memoranda.
- All filings, including supporting documents and summaries, must be submitted electronically via SERFF, with specific formats required for public posting and regulatory review.
- Transparency is mandated: all rate filings and correspondence will be posted publicly, and annual certifications for mental health parity and actuarial compliance are required.