New Hampshire Rate Review Grants Award List
Cycle I Grant Application Summary
New Hampshire Grantee: New Hampshire Insurance Department
Award Date: August 16, 2010
Award Amount: $1,000,000
- Improve the Review Process: Currently, New Hampshire has prior approval authority over all individual and small group market major medical products. The State will improve its existing filing requirements by collecting additional information such as administrative costs, overall carrier finances and historical data to determine the reasonableness of proposed rate increases. New Hampshire may use data from improved filings to retrospectively review health insurance premiums.
- Increase Transparency and Accessibility: New Hampshire currently provides access to health insurance premiums filings upon request at its office. The State will create a web portal that allows consumer access to rate filing information and provides plain language summaries that explain changes in premiums, identify why premiums changed, and the actuarial value of coverage.
- Develop and Upgrade Technology: New Hampshire will upgrade systems to improve efficiency and streamline data sharing.
Cycle II Grant Application Summary
New Hampshire Grantee: New Hampshire Insurance Department
Award Date: September 20, 2011
Total Award: $3,564,938
Baseline Award: $3,000,000
Performance Award Amount: $564,938
- Expand scope of rate review: New Hampshire will study market shifts and will respond in regulation as necessary.
- Improve rate filing requirements: New Hampshire will require carriers to submit additional information including reporting and administrative expenses. New Hampshire will also propose to expand claims information collection so that data can be used in the rate review process.
- Improve transparency and consumer interfaces: Recent State law requires an annual public hearing to discuss rates and factors, and also permits the Commissioner to require carriers to produce information for the hearings. New Hampshire will set up a website for access to rate filings and summaries with comment capability and overview of the general rate review process. New Hampshire also plans on holding stakeholder meetings and producing informational materials on the rate review process.
- Hire new staff: New Hampshire will create 2 new positions from the Cycle II grant funding.
- Improve IT: New Hampshire will also develop data systems to compare different data sets and will create a model to predict the migration of insured individuals between different markets and plans. The Insurance Department will work with other partners to evaluate current systems and increase data exchange capabilities.
Last updated: September 21, 2012