The bill aims to enhance the consistency of 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 rate filings. Notably, the bill stipulates that rates for individual and small group market health benefit plans cannot be utilized 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, ensuring they do not contain misleading clauses or unreasonable restrictions. It emphasizes that the benefits provided must be reasonable in relation to the premiums charged. The amendments also maintain the right of health care service contractors and health maintenance organizations to demand hearings if their contracts are disapproved, thereby ensuring a fair process in the rate approval and disapproval mechanisms.

Statutes affected:
Original Bill: 48.18.110, 48.46.060