Mississippi Administrative Code › Title 19 - Department of Insurance › Part 3 - Accident and Health › Chapter 4 - Accident and Health Insurance Policies, Rates and Other Endorsement Filings (As Amended) › Rule 19-3-4.01

Current through June 25, 2024
Section
				  83-9-5(7),
				  Mississippi Code of 1972, Annotated, provides that the Commissioner of
				  Insurance may make reasonable rules and regulations concerning the procedure
				  for the filing or submission of accident and sickness insurance policies
Pursuant to such authority, every insurance company, either
				  foreign or domestic, authorized to transact accident and sickness business in
				  the State of Mississippi shall, before any policy is issued, file a copy of
				  such policy, accompanied by a rate filing applicable to such policy. In case of
				  any change, including a change of premium rate on any accident and sickness
				  policy, such rate shall be filed with the Department, together with information
				  indicating to what policy same is applicable, the date such change in premium
				  rate will be applicable, and all other information relevant to such change in
				  rate. No premium or rate of premium shall be changed by any company, applicable
				  to any accident and sickness policy, until such change has been made in the
				  manner herein provided and acknowledgment of such filing made by the
				  Department.
No benefit changes shall be implemented by any insurance
				  company applicable to any accident and sickness policy until written notice is
				  provided to the policyholder at least seventy-five (75) days prior to the
				  effective date of the benefit change. For the purposes of this Regulation, the
				  term "benefit change" shall mean any change to the choice of benefits, benefit
				  limits or benefit duration limits that are not requested by a policyholder.
				  Notice of the benefit changes may be sent by U.S. Mail or electronically where
				  the policyholder conducts transactions with the insurance company
				  electronically, subject to the provisions of the Mississippi Uniform Electronic
				  Transactions Act.
No insurance company shall ever, under any circumstances,
				  attempt to place any change of rate or any other change in a policy form into
				  effect except after such change has been filed in this office and acknowledged,
				  and where required by law, approved. In particular, any notice to an insured
				  that a change in policy is being made, either a rate or other change, is
				  prohibited except after filing of such change, acknowledgment thereof, and
				  where required by law, approval. Any change as to a policy already issued may
				  be effected only by endorsement attached to and made a part of such
				  policy.
Additionally, no rate increase shall be implemented by any
				  insurance company applicable to any accident and sickness policy unless written
				  notice is provided to the policyholder at least seventy-five (75) days prior to
				  the effective date of the increase. Notice of the rate increase may be sent by
				  U.S. mail or electronically where the policyholder conducts transactions with
				  the insurance company electronically.
Every policy or other filing provided for under these rules
				  shall be accompanied by a cover letter, in duplicate, setting out the number
				  and a brief description of such form.
All policy filings must comply with all provisions of the law
				  of this State applicable thereto and this and all other rules of this office
				  pertaining thereto. Nothing herein shall be interpreted as rescinding any other
				  rule and regulation, but these rules are to be interpreted as cumulative to the
				  requirements of any other rules pertaining to the subject matter hereof
The provisions of this Regulation shall not apply to
				  long-term care insurance or any accident and health group plan that is
				  preempted by the provisions of The Employee Retirement Income Security Act of
				  1974.
The amendments to this Regulation shall become effective on
				  and after January 1, 2021.
Miss Code Ann.
				  §§
										83-5-1;
				  83-5-29; 83-9-5 (7) (Rev. 2011)