1 Accident and Health Filing Update, Webinar 1 - PowerPoint Presentation

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Accident and Health Filing Update, Webinar 1

March 1, 2016Karl KnableChief Health ActuarySlide2

Celebrating 200 Years

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Audience for Today’s Webinar

All accident and health carriers with rate and form filings

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Mark Your Calendars for These Upcoming Webinars!

March 8Audience: major medical, student health plans, and major medical supplementMarch 15Audience: ACA-compliant filings both on and off exchange, individual and small group, and dental

March 22Audience: On and off Marketplace plan management, Indiana-specific-individual and small group templatesMarch 29Audience: On and off Marketplace actuarial topics4Slide5

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Changes to our website

Filing best practices Changes in SERFFChanges to IDOI filing

requirements

IDOI Webinar

Agenda

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Navigating IDOI’s Updated Website

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Finding Compliance Rates

and Forms

7Visit our homepage http://www.in.gov/idoi/ Under IDOI home, click “Compliance Rates and Forms”Slide8

Compliance Rates and Forms Page

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3. Click on the circled links to access Forms, Rates and Reference DocumentsSlide9

Accident and Health Forms Available on the Website

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ACA major medical checklists

Checklists for other than ACA major medical

Checklists for Medicare and Long term care Slide10

Accident and Health Rating Info Available on the Website

BindersActuarial Memoranda Outlines Experience Workbooks

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Filing Best Practices

Download new checklists, outlines, and workbooks for each new filing

All items you need will be available in SERFF based on your TOIMake sure you add items under the appropriate tab within supporting documentsProvide a redline copy when you make changes to the forms.Provide a redline copy of any changes other than rates in the rate manual.11Slide12

Filing Best Practices

You may find these requirements under Supporting Documentation: A checklist (only on submissions including forms)Actuarial memorandum outlineRequired Rate Fields in SERFFExperience Workbook

Submit the completed checklist, workbook, or actuarial memorandum under the appropriate requirement Do not clone your filingsPDFs need to be searchablePlease call with questions12Slide13

Reference Documents

New 2017 EHB documentsNew FedVipNew

Fed dentalState benefitsACA related Final letter to issuersNotice of Benefit & Payment Parameters for 20162016 others13Slide14

Understanding SERFF

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New Types of Insurance

New TOI’s and sub TOI’s

Student HealthBlanket SicknessPediatric dentalLimited wrap-around coverageOthers15Slide16

Instructions For

SERFF Filings

Updated General InstructionsCorrect filing typeFormForm/rateRateImplementation date No less than 60 days after submission dateAll rate filings need an implementation date16Slide17

Instructions For SERFF Filings

General InstructionsMarket typeIndividual

GroupGroup market sizeFor ACA. Specify small v. large and do not file togetherOverall rate impact Carriers are required to submitShould match the overall rate percent on the rate/rule scheduleFiling descriptionUse this instead of cover letterInclude prior SERFF tracking number in the first lineIf this is a new form, please indicate such

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Form Schedule

Always include final form here and redline changes under Supporting Documents.Include Policy, Certificate, and Applications.Review checklist changes from

Supporting DocumentsPDFs need to be searchable18Slide19

Rate/Rule Schedule

Do not put Actuarial Memorandum here, please save in Supporting DocumentationEach field needs to be filled out for rate changes

Need to complete Overall Percentage of Last Rate Revision if applicable19Slide20

Rate/Rule Schedule

For rate changes use the correct description for Rate Change Type, under Rate/Rule ScheduleSubmit rates with any new filing

The written premium should be for the 12 months prior to the requested implementation date.20Slide21

Supporting Documentation

Requirements:

ChecklistExperience WorkbookActuarial MemoRequired Rate Fields in SERFFAdditional documentation:Statement of Variability Third Party AuthorizationReadability Certification21Slide22

Supporting Documentation

Experience Workbooks (“EW”)

For anything that involves a new set of rates please submit a new EW4 Kinds: Maj Med, LTC, Med Sup, and BasicFor new filings, if based on sister company or other company experience, we expect an experience workbook and comparison of rates and benefits Student Health plans will use

Major Medical Experience Workbook

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Supporting Documentation

Experience WorkbookDo not create extra columns/rows

No text where it should be a numberDo not create your own Experience WorkbookContact us if you have questions BEFORE SUBMISSION23Slide24

Supporting Documentation

Experience Workbook General Filing Information tabRows 18-20 must be completed because they populate the dates in the experience tabs.

Contact information will be used for correspondence on the filing as well targeted industry emails.24Slide25

Supporting Documentation

Experience Workbooks Plan OverviewRate

changes are segregated into(A)=One Time Rate Changes (no Trend)(B)=Annualized Premium TrendThe Overall % Rate Impact reported on the Rate/Rule Schedule is equal to [(1+(A))*(1+(B))-1]*100%25Slide26

Supporting Documentation

Actuarial MemosPDF’s must be searchable

Can use provided template or a format of your own choosingGenerally, we like to see comparisons of existing products to the proposed filing; this should be included as an additional exhibit and show differences in benefitsMake sure you comply with existing Actuarial Standards of Practice26Slide27

Supporting Documentation

Required Rate Fields in SERFFIf you have a rate change, review our instructions in Required Rate Field in SERFF at www.in.gov/idoi/files/Required_Rate_Fields_in_SERFF.pdfSignificant

changes in the Required Rate Field instructionsMAKE SURE YOU READ IF YOU HAVE NOT FILED RECENTLY27Slide28

Medicare Supplement

Medicare Supplement Refund CalculationEmail these to: compliance@idoi.in.gov Please indicate Medicare Supplement Refund Calculation in the subject line.

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Companies and Contact; Filing Correspondence Tabs

Companies and ContactIt is possible to put a secondary contact person for form/rateFiling Correspondence

What information is considered public? EVERYTHINGIf you need additional time, please submit a note to reviewer29Slide30

IDOI Contact Information

Karl Knable, Chief Health Actuarykknable@idoi.in.gov317-232-2416Stephen Chamblee, Associate Actuaryschamblee@idoi.in.gov

317-234-7993Bobbi Henn, Policy Analystbhenn@idoi.in.gov317-232-5693Indiana Compliance Mailboxcompliance@idoi.in.gov 30Slide31

Any Questions?

Don’t forget to register for Webinar 2 -- MHPAEA, Student Health Plans, & Renewal Letters!The intended audience for this March 8 webinar is major medical, major medical supplement, student health, dental, grandfathered, transitional, and ACA-compliant plans with rate and form filings

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