The act directs the commissioner of insurance to study the impacts and viability of creating a single geographic rating area, consisting of the entire state, for purposes of determining premium rates for individual health benefit plans. The commissioner is to include in the study an examination of factors that affect differentiations in premium rates, including differing health care costs throughout various geographic areas of the state. By August 1, 2016, the commissioner is to report and present the findings and recommendations to the joint budget committee of the general assembly and send the report to the health committees of the general assembly. Additionally, the commissioner is to present the report to the health committees during their hearings held prior to the 2017 regular legislative session under the 'State Measurement for Accountable, Responsive, and Transparent (SMART) Government Act'.
The requirements under the act repeal on December 31, 2016.
(Note: This summary applies to this bill as enacted.)