The bill aims to enhance consistency in the rate approval process for individual and small group market health plans in Washington State. It amends existing laws, specifically RCW 48.18.110, RCW 48.44.020, and RCW 48.46.060, to clarify the conditions under which the insurance commissioner can disapprove health benefit plan rate filings. Notably, the bill stipulates that rates for individual and small group market health benefit plans cannot be used until 60 days after they are filed with the commissioner. If the commissioner does not disapprove a rate filing within this timeframe, the filing will be deemed approved for both individual and small group market plans.

Additionally, the bill reinforces the grounds for disapproval of policy forms and contracts, including provisions that are misleading or contain unreasonable restrictions. It also emphasizes that the benefits provided must be reasonable in relation to the premiums charged. The amendments ensure that both individual and small group market health benefit plans are subject to the same approval timeline, thereby streamlining the regulatory process and providing clearer guidelines for insurers and health care service contractors.

Statutes affected:
Original Bill: 48.18.110, 48.46.060