Mississippi Rate Review Grants Award List

Cycle I Grant Application Summary

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

• Pursue Additional Legislative Authority: Under current law, Mississippi does not approve health insurance premium increases other than for Medicare supplement policies and long term care insurance. The Department of Insurance will seek legislation to provide for the prior review and approval of additional health insurance markets.
• Improve the Review Process: The Department of Insurance proposes to completely overhaul its existing system of health insurance premium review, including regulations, bulletins, standards, IT systems and internal protocols.
• Increase Transparency and Accessibility: Consumers are not now able to search health insurance rate filings. The Department of Insurance proposes to post on its website information on how health insurance premiums are determined and to provide access to filings, increases and the justifications for increases. Mississippi also proposes to develop ways to communicate this information to rural consumers without Internet access.
• Develop and Upgrade Technology: Mississippi will compile raw rate data, increase accessibility to rate filings, and provide health insurance premium information to the public.

Cycle II Grant Application Summary

Mississippi Grantee: Mississippi Department of Insurance
Award Date: September 20, 2011
Total Award: $3,783,208
Baseline Award: $3,000,000
Workload Award Amount: $183,208
Performance Award Amount: $600,000

• Introduce legislation: Mississippi plans to issue a regulation and then introduce legislation in the 2012 legislative session to improve its current requirements found in Bulletin 2011-7, which requires issuers to submit rates in the individual and small group markets for prior approval. Mississippi is also considering the feasibility of requiring companies to provide a plain language explanation or justification for rate increases; this explanation would also be posted on the website.
• Improve rate filing requirements: Mississippi will enhance requirements by issuing a regulation to solidify Bulletin 2011-7 and will follow with legislation to further solidify the new requirements. Consultants will assess the current rate review process and propose enhancements or alternatives.
• Improve transparency and consumer interfaces: Mississippi will enhance its website to include more information about the rate review process, the option for consumers to be notified of pending rate increases and a consumer comment box. Mississippi will also establish an Educational Outreach Program to host 40 public forum meetings around the State over the 3 year grant period to educate the public about Mississippi’s rate review program; the State will also create a "Health Insurance Toolkit" containing rate review information.
• Hire new staff: Mississippi will create 2 new positions with the Cycle II grant funding.
• Improve IT: Mississippi will expand its current research to include robust data analysis and data exchange capabilities. Mississippi will use its grant to assess the Insurance Department's capabilities and propose enhancements for its new rate review website.

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