Delaware Department of Insurance

1
Delaware Department of Insurance

• Health Care Reform
• Where are we now?

2
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.

3
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

4
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. .

5
Reforms

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

6
Reforms

• Temporary Reinsurance
• For employers providing coverage to early retirees

7
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

8
Grant use

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

9
Grant Use

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