The bill amends Section 27-50-5 of the "Small Employer Health Insurance Availability Act" to include members of the greater Providence Chamber of Commerce in the exclusion of premium rates for the Rhode Island Builders' Association. The act specifies that small employer carriers must develop rates based on an adjusted community rate, allowing variations only for age and family composition. It establishes that the adjustment for age cannot use brackets smaller than five-year increments, starting from age thirty and ending at sixty-five. Additionally, it permits separate rates for individuals aged sixty-five or older based on whether Medicare is the primary payer. The bill further stipulates that the highest premium rate for each family composition type cannot exceed four times the lowest premium rate for that composition. The act is set to take effect upon passage.

Statutes affected:
5568: 27-50-5