October 06, 2015
On Sept. 25, 2015, the Arkansas Insurance Department issued Bulletin No. 13-2015, which provides guidance on submitting quarterly index rate changes for small employer non-grandfathered health benefit plans and small employer stand-alone dental plans. Specifically, this bulletin applies only to carriers desiring to change their index rate or plans in the small employer pool, which excludes grandfathered and transitional plans.
As background, on Feb. 18, 2014, the CCIIO issued a bulletin providing guidance on allowable quarterly changes to small employer group index rates. Pursuant to 45 CFR Section 156.80(d)(3)(iii) and the bulletin, each state is allowed to determine when and how often to accept changes for small employer group plans, subject to the qualification that rates cannot change more frequently than quarterly. This bulletin clarifies Arkansas’ position on the matter of small employer group index rates.
The bulletin states that small employer rates and plans can change as frequently as quarterly using one of the two methods specified. The bulletin also provides a submission schedule for quarterly filings. Carriers must submit annual filings according to the applicable timelines and requirements issued by the Department.
Although the bulletin is directed toward carriers, Arkansas employers with small groups should take notice of the bulletin and work with their carriers to determine how often their rates could change.
Bulletin No. 13-2015 »