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Delaware Department of Insurance

Explore the Delaware Department of Insurance's progress since being awarded a $1,000,000 grant for rate review enhancement under the PPACA. Learn about insurance reforms and how the grant promotes transparency and consumer empowerment.

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Delaware Department of Insurance

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  1. Delaware Department of Insurance Health Care Reform: Where are we now?

  2. Premium Rate Review Grant • Grant application was issued to states in June • Delaware Department of Insurance applied and was awarded $1,000,000 in July, 2010.

  3. Purpose of Grant • Section 1003 of the Patients Protection Affordability Care Act (PPACA) provides for a program of grants to states to help them improve rate review and reporting process

  4. Insurance Reforms: Beginning September 23, 2010 • Allows young adults to stay on their parents’ health care plan until age 26. • Effective for plan years that begin after September 23.   • Young adult does not have to be living with parents, does not have to be a student and does not have to claimed on parents’ tax return. • Applies to both married and unmarried children • Spouse and child are not included. • Transition for certain existing group plans that generally do not have to provide dependent coverage until 2014 if the adult child has another offer of employer-based coverage aside from coverage through the parent. .

  5. Reforms • Lifetime and Annual Limits • No lifetime limits • Rescissions • Does not permit rescissions • Delaware law • Preventive Health Services • 100% Coverage

  6. Reforms • Temporary Reinsurance • For employers providing coverage to early retirees

  7. How will the DOI use the grant? • Website Enhancements • Permit consumers to compare rates of carriers (similar to the auto compare currently in use) • Web design for reporting of company financial information

  8. Grant use • Transparency • Hearings on Rate filings • Meetings between Consumers, Insurance carriers and the Department of Insurance • Discuss ratemaking process

  9. Grant Use • Staff • Technology • Video Conferencing • Software to permit more in depth review • SERFF Enhancement for required reporting • Equipment

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