Section 2026.80  Prior Approval, Disapproval, or Modification of Rates

When the Director approves, disapproves, or modifies a rate described in Section 2026.30(b), the Director, within 60 days after the close of the public comment period, will notify the health insurance issuer of the decision, make the decision available to the public by posting it on the Department's website, and include an explanation of the findings, actuarial justifications, and rationale that are the basis for the decision. Any notice of modification or disapproval will state that the health insurance issuer whose rate has been modified or disapproved may request a hearing within 10 days after the Department issues the notice to the health insurance issuer. (Section 355(f) of the Code) Hearings will be conducted in accordance with 50 Ill. Adm. Code 2402, and costs of the hearing may be assessed against the health insurance issuer in accordance with Section 408(5) of the Code and 50 Ill. Adm. Code 2402.270.

(Source:  Added at 48 Ill. Reg. 7239, effective April 30, 2024)