STATE OF OKLAHOMA

1st Session of the 53rd Legislature (2011)

SENATE BILL 663	By:	Paddack

AS INTRODUCED

An Act relating to health insurance premiums; creating the Oklahoma Individual Market Consumer Awareness Act; providing short title; defining terms; requiring the Insurance Department to post certain information on the Department’s website; specifying content of rate filing summary; providing for public comment period; authorizing certain meetings; requiring the Department to investigate certain complaints; specifying content of certain consumer education materials; requiring the Insurance Commissioner to promulgate certain rules; providing for codification; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.1 of Title 36, unless there is created a duplication in numbering, reads as follows:
This act shall be known and may be cited as the “Oklahoma Individual Market Consumer Awareness Act”.
SECTION 2.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.2 of Title 36, unless there is created a duplication in numbering, reads as follows:
As used in the Oklahoma Individual Market Consumer Awareness Act:
1.  “Commissioner” means the Insurance Commissioner;
2.  “Department” means the Insurance Department; and
3.  “Insurer” means any entity subject to the provisions of Sections 4401 through 4411 of Title 36 of the Oklahoma Statutes.
SECTION 3.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.3 of Title 36, unless there is created a duplication in numbering, reads as follows:
A.  The Insurance Department shall post links on the Insurance Department’s website to a webpage on which rate filings and summaries can be found.  Links to rate filings and summaries shall be clearly labeled by name of the insurer, type of policy, and the filing date of the proposed rate change.
B.  The rate filing summary shall explain the filing in a manner that is consumer friendly and that allows consumers to understand the rate change.  The summary shall be in accordance with a form established by the Commissioner.
SECTION 4.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.4 of Title 36, unless there is created a duplication in numbering, reads as follows:
A.  Beginning on the date that the Insurance Commissioner posts on the Insurance Department’s website a proposed rate change pursuant to Section 3 of this act, the Commissioner shall open a sixty-day public comment period on the rate change and rate filing.  The Commissioner shall allow members of the public to comment by mail and e-mail, and the Commissioner may create a website where members of the public can publicly post comments.  The Commissioner, in his or her discretion, may convene meetings around the state for consumers to comment and ask questions.
B.  If a complaint is made about a specific rate increase during the public comment period, the Insurance Department shall investigate the rate increase being posted to determine if such rate is in compliance with actuarial principles in order to determine if the increase is justified.
SECTION 5.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.5 of Title 36, unless there is created a duplication in numbering, reads as follows:
The Insurance Department shall enhance its consumer education efforts by making consumer education materials available on the Department’s website.  Included in these materials should be a report on the health insurance market in Oklahoma for consumers and any other information that the Department deems necessary to educate the public.
SECTION 6.     NEW LAW     A new section of law to be codified in the Oklahoma Statutes as Section 4420.6 of Title 36, unless there is created a duplication in numbering, reads as follows:
The Insurance Commissioner shall promulgate any rules necessary to implement the provisions of this act.
SECTION 7.  This act shall become effective November 1, 2011.

53-1-405	ARE	1/19/2011 4:47:54 PM