The bill amends several sections of the General Laws related to health insurance rates for insurance companies. It introduces a new requirement that these companies cannot pay a rate that is less than the approved Medicaid rate set by the executive office of health and human services. This requirement is included in Sections 27-18-54, 27-19-30.1, 27-20-25.2, and 27-41-27.2, which outline the conditions under which these companies may file rates and charge premiums.

The bill does not remove any existing language regarding the filing of proposed rates for review or approval by state agencies or the ability to charge rates that reflect contributions to charitable foundations. Instead, it adds the new provision regarding the Medicaid rate without altering the existing framework for rate filing and approval.

The act is set to take effect on January 1, 2027.

Statutes affected:
7346: 27-18-54, 27-19-30.1, 27-20-25.2, 27-41-27.2