California Insurance Code

§ 10181.6

INS § 10181.6 Effective Jan 1, 2011Div. 2 · Part 2 · Ch. 1 · Art. 4.5

Statute text

(a)A filing submitted under this article shall be actuarially sound.

(b)(1) The health insurer shall contract with an independent actuary or actuaries consistent with this section.

(2)A filing submitted under this article shall include a certification by an independent actuary or actuarial firm that the rate increase is reasonable or unreasonable and, if unreasonable, that the justification for the increase is based on accurate and sound actuarial assumptions and methodologies. Unless PPACA requires a certification of actuarial soundness for each large group health insurance policy, a filing submitted under Section 10181.4 shall include a certification by an independent actuary, as described in this section, that the aggregate or average rate increase is based on accurate and sound actuarial assumptions and methodologies.

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Legislative history

Added by Stats. 2010, Ch. 661, Sec. 7. (SB 1163) Effective January 1, 2011.