OCI Moving Forward on 1332 Waiver Proposal
At a March 8 meeting of the Office of the Commissioner of Insurance (OCI) Health and Life Insurance Advisory Committee, Deputy Insurance Commissioner J.P. Wieske provided an update on Wisconsin’s 1332 waiver proposal (see previous Valued Voice article). The waiver would establish a reinsurance program to assist with claims costs for individuals covered through the Insurance exchange in order to keep premium cost increases reasonable for exchange policies. According to Wieske’s presentation to the Committee, the agency expects premium increases to be 15 percent without the reinsurance program, but just 2 percent with the reinsurance program.
At the meeting, Wieske indicated OCI plans to release a draft of the waiver early the week of March 12. He also indicated OCI plans to hold a series of public hearings around the state, starting as early as March 14, and concluding by the end of the first week in April. The exact dates and locations for the hearings are not yet available.
OCI plans to submit the final waiver request to CMS in mid-April, and is hopeful for a decision on CMS approval by September. OCI expects insurers will submit rate filings for the 2019 benefit year by July 2. Final 2019 rates will likely be announced by OCI in October.
This story originally appeared in the March 09, 2018 edition of WHA Newsletter