HRS §431:14G-104
When the insurance commissioner can order rate filings
The insurance commissioner can order health insurance companies to file their rates if there is solid actuarial evidence that current rates are too high, too low, or unfair. Once ordered, managed care plans must submit the rate filings within 120 days, and those filings must follow the regular rate filing rules.
The statute, as written — Rate adjustment mandates
(a) Except as otherwise provided by law, the commissioner may mandate filings for health insurance under section 431:14G-105 when the commissioner has actuarially sound information that current rates may be excessive, inadequate, or unfairly discriminatory. (b) Managed care plans shall submit the rate filings within one hundred twenty days of the commissioner's mandate. (c) The rate filings shall be subject to the rate filing requirements under section 431:14G-105.
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