| Rule Number: |
21P013 |
| Title: |
Health Care Stop Loss Insurance (H-2009-02). |
|
Type:
|
Standard |
|
Status:
|
Proposed |
| Agency: |
Department of Financial Regulation
|
| Legal Authority: |
8 V.S.A. ยงยง 15, 6015. |
| Summary:
| The proposed amendments to the rule: 1) increase minimum annual attachment points for claims incurred per individual; 2) increase the minimum annual aggregate attachment points; and 3) limit higher attachment points for any individual or group of individuals within small employer groups to three times the attachment point chosen for the policy. |
| Persons Affected:
| Vermont Department of Financial Regulation; Green Mountain Care Board; Small employers who provide or are considering providing self-insured health benefits to their employees; Certain insurance providers and brokers; and Employees of small employers; |
| Economic Impact:
| The amendment will bring individual and aggreate attachment points for stop-loss insurance plans in line with inflation and medical trend while leaving it economically viable for small employers, particularly those with low expected claims levels, to self-insure. To the extent that the amendment affects health insurance premiums on Vermont's health benefits exchange, the Department anticipates that there will be little to no impact. The amendment increases the average percentage of incurred claims expected to be retained by employers, reducing the financial incentive for employers to leave the exchange and self-insure. |
| Posting date: |
Apr 14,2021 |
