Missouri Rate Review Grants Award List
Cycle I Grant Application Summary
Missouri Grantee: The Missouri Department of Insurance
Award Date: August 16, 2010
Award Amount: $1,000,000
- Expand the Scope of the Review Process: Currently, health insurance premiums are not required to be filed with the Department of Insurance. The Department anticipates that the new federal law will provide additional authority to review health insurance premiums and proposes to develop a new review process for the individual and small group markets.
- Improve the Review Process: Missouri currently has no filing requirement. Missouri proposes to use grant funds to construct a data system which will house health insurance premium information and related increases filed with the state. This data system will provide the structure and mechanism for actuaries to perform health insurance premium analysis.
- Increase Transparency and Accessibility: The Department will post real-time health insurance premium filing information on its website and include actual rates and carrier justification for increases in a consumer friendly format. The Department will also post review procedures on its website, and will provide consumers with email notification when carriers file health insurance requests.
- Develop and Upgrade Technology: Missouri will deploy a three-phase information technology infrastructure plan to upgrade its current system.
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