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The Center for Consumer Information & Insurance Oversight

 

South Dakota Rate Review Grants Award List

Cycle I Grant Application Summary

South Dakota Grantee: South Dakota Division of Insurance
Award Date: August 16, 2010
Award Amount: $1,000,000

  • Improve the Review Process: Currently South Dakota only reviews the individual market health filings. South Dakota will develop comprehensive health insurance premium review standards and internal health insurance premium review guidelines including adding a second level actuarial review.
  • Increase Transparency and Accessibility: Currently health insurance filings are only available upon request. South Dakota will establish a consumer friendly web portal to provide consumers with access to accident and health insurance premium filings.
  • Develop and Upgrade Technology: South Dakota will upgrade systems to provide greater transparency.

Cycle II Grant Application Summary

South Dakota Grantee: South Dakota Division of Insurance
Award Date: September 20, 2011
Total Award: $3,000,923
Baseline Award: $3,000,000
Workload Award Amount: $923

  • Improve rate filing requirements: South Dakota plans to collect information from the preliminary justification forms, display information on its web portal, and collect public comments on rate filings.
  • Improve transparency and consumer interfaces: South Dakota will continue to support enhancements and maintenance to the consumer web portal created during Cycle I. This web portal will allow consumers to access rate filings in a web-based manner.
  • Hire new staff: South Dakota will create 1 new position with Cycle II Grant funding.
  • Improve IT: South Dakota will support enhanced data collection, the display of collected data, and receipt of public comments on rate filings.

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