The Center for Consumer Information & Insurance Oversight

Indiana Rate Review Grants Award List

Cycle I Grant Application Summary

Indiana Grantee: Indiana Department of Insurance
Award Date: August 16, 2010
Award Amount: $1,000,000

  • Improve the Review Process: Indiana currently prospectively reviews all premium increases. The State will improve the rigor of its current review process by acquiring contracted actuarial support. Additionally, Indiana will conduct a study to identify best review practices across States and identify areas where existing regulations and legislation can be strengthened.
  • Increase Transparency and Accessibility: Health insurance premium filings are currently only available upon request. Indiana will develop a consumer website that will provide complete rate filings and high level filing summaries. Consumers will be able to post comments on proposed rate increases directly on the site.
  • Develop and Upgrade Technology: Indiana will upgrade its systems to improve efficiency and streamline data sharing.

Cycle II Grant Application Summary

Indiana Grantee: Indiana Department of Insurance
Award Date: September 20, 2011
Total Award: $3,890,752
Baseline Award: $3,000,000
Workload Award Amount: $290,752
Performance Award Amount: $600,000

  • Improve rate filing requirements: An expanded actuarial team will review health insurance products, and create an actuarial database to enhance rate review.
  • Improve transparency and consumer interfaces: Indiana will continue to make filings available to the public with comment capability via Rate Watch.
  • Hire new staff: Indiana will propose an actuarial internship program that will include paid and unpaid interns.
  • Improve IT: Indiana will develop a system for actuary collaboration, consisting of a historical actuarial database that actuaries can access and generate rate review summaries used later in the review process by other team members. This database will reduce actuarial workload, turnaround time on a review, and improve review uniformity and quality.

Cycle IV Grant Application Summary

Indiana Grantee: Indiana Department of Insurance
Award Date: September 19, 2014
Total Award: $1,179,000

  • Expand Scope of Rate Review: Indiana will use funds to develop additional internal tools to continue to expand the scope of its rate review process.  This includes tools to:
    o Review rate increases and ensure new rates align with Affordable Care Act requirements
    o Monitor rates and claims paid by issuers
    o Analyze and capture other state procedures
    o Track Essential Health Benefit changes to the pricing of such benefits
    Indiana also plans to enhance the rate review process by incorporating comparisons of filings against the market as a whole and using financial and/or market conduct examinations to audit and track the rates actually used by insurance companies against the rates that were approved.
  • Improve the Quality/Efficiency of Rate Review: Indiana will use the Unified Rate Template to facilitate the process of analyzing premium rate levels received from all issuers in the market in each specific service area.  This will increase the speed and efficiency of the rate review process in Indiana.
  • Improve Rate Review Transparency: Indiana plans to implement major changes to its “Rate Watch” application on its website in order to increase the amount of information that is provided to the consumer and to enhance the user experience.

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