Section 2026.90  Material Changes to the Director’s Decision After Approving Rates

If, following the issuance of a decision but before the effective date of the premium rates approved by the decision, an event occurs that materially affects the Director's decision to approve, deny, or modify the rates described in Section 2026.30(b), the Director may consider supplemental facts or data reasonably related to the event. (Section 355(g) of the Code) The Director will issue a new decision rescinding the prior decision and notifying the health insurance issuer of the disapproval or modification of rates in accordance with Section 2026.80. After approval has been expressly given or automatically deemed by law, the Director will not disapprove or modify rates based solely on analysis or reconsideration of information already submitted to the Director by the health insurance issuer or in public comments before the approval decision was finalized.

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