The bill amends several sections of the General Laws related to health insurance rates for insurance companies. The key provisions include a prohibition on insurance companies from paying a rate that is less than the approved Medicaid rate set by the executive office of health and human services. This requirement aims to ensure that insurance companies comply with Medicaid standards.

Additionally, the bill mandates that any rate charged to policyholders must be accompanied by a detailed accounting submitted to the commissioner of insurance at least thirty days prior to implementation. This accounting must document the cost structure on which the rate is based, ensuring transparency and compliance with the new regulations. The act is set to take effect on January 1, 2026.

Statutes affected:
791: 27-18-54, 27-19-30.1, 27-20-25.2, 27-41-27.2