MD| Bulletin 25-2 from the Maryland Insurance Administration, dated January 3, 2025, provides guidance for insurers regarding form and rate filing requirements for student health benefit plans for the 2025-2026 school year.
The bulletin outlines:
- Annual filings are required by February 3, 2025, if carriers intend to use new forms, amend previously approved forms, or revise previously filed rates.
- Student health benefit plans must provide the same essential health benefits as those applicable to the individual market, based on the 2017 Benchmark Plan.
- Carriers must ensure compliance with federal regulations, including providing an actuarial value of at least 60%, adhering to Mental Health Parity and Addiction Equity Act regulations, and demonstrating a medical loss ratio of at least 80%.