Bill Summary
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Senate Counsel & Research   State of Minnesota
 
S.F. No. 2293 - Loss Ratios in the Health Insurance Market
Author: Senator Linda Scheid
Prepared by: Christopher B. Stang, Senate Counsel (651/296-0539)
Date: March 27, 2006

This bill permits health insurers to use a policy form and the premiums rates to be used with it in the health insurance market upon filing a "loss ratio guarantee" and supporting documents. The guarantee is the insurer's guarantee that the premium rates, when used with that policy form, will yield a loss ratio of at least 65 percent. A loss ratio is in general terms the percentage of premium dollars paid out in claims to policyholders, usually with certain adjustments.

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