HOUSE DOCKET, NO. 1110        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 884

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Michael A. Costello

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to aggregation of insurance rating factors.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Michael A. Costello

1st Essex

1/16/2013


HOUSE DOCKET, NO. 1110        FILED ON: 1/16/2013

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 884

By Mr. Costello of Newburyport, a petition (accompanied by bill, House, No. 884) of Michael A. Costello relative to the aggregation of insurance rating factors.  Financial Services.

 

The Commonwealth of Massachusetts

 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act relative to aggregation of insurance rating factors.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION1. Section 6 of said chapter 176J, as amended by section 20 of chapter 142 of the acts of 2011, is hereby amended by adding the following subsection:

(g) For the purposes of rate development and for calculating the aggregate medical loss ratio for rate filings under this section, a carrier may calculate projected and reported per member per month revenues and projected and reported claim costs for small group health plans subject to this chapter on an aggregated basis for all affiliated companies within a parent corporation or holding company that offer such plans.