Delaware Department of Insurance Health Care Reform: Where are we now?

Premium Rate Review Grant  Grant application was issued to states in June  Delaware Department of Insurance applied and was awarded $1,000,000 in July, 2010.

Purpose of Grant  Section 1003 of the Patients Protection Affordability Care Act (PPACA) provides for a program of grants to states to help them improve rate review and reporting process

Insurance Reforms: Beginning September 23, 2010  Allows young adults to stay on their parents’ health care plan until age 26. Effective for plan years that begin after September 23. Young adult does not have to be living with parents, does not have to be a student and does not have to claimed on parents’ tax return.  Applies to both married and unmarried children  Spouse and child are not included. Transition for certain existing group plans that generally do not have to provide dependent coverage until 2014 if the adult child has another offer of employer-based coverage aside from coverage through the parent..

Reforms  Lifetime and Annual Limits  No lifetime limits  Rescissions  Does not permit rescissions  Delaware law  Preventive Health Services  100% Coverage

Reforms  Temporary Reinsurance For employers providing coverage to early retirees

How will the DOI use the grant?  Website Enhancements Permit consumers to compare rates of carriers (similar to the auto compare currently in use) Web design for reporting of company financial information

Grant use  Transparency Hearings on Rate filings Meetings between Consumers, Insurance carriers and the Department of Insurance  Discuss ratemaking process 

Grant Use  Staff  Technology Video Conferencing Software to permit more in depth review SERFF Enhancement for required reporting  Equipment