Public Invited to Comment on Regulations Regarding Disclosure and Review of Insurance Premium Increases
Lieutenant Governor Gregory R. Francis announces that the final rules and regulations for health insurance issuers regarding disclosure and review of unreasonable premium increases is now available for public review and comment for a period of 60 days, to end on August 9, 2011.
The final rules are promulgated under section 2794 of the Public Health Service Act, which establishes a rate review program to ensure that all premium rate increases that meet or exceed a specified threshold are reviewed by the Territory or Centers for Medicare and Medicaid Services (CMS) to determine whether they are unreasonable. In accordance with Title 3 V.I.C. Section 940 and Title 22 V.I.C. Section 1723, the Office of the Lieutenant Governor has issued rules and regulations to implement these sections of the Federal Register.
