(a) For large group health insurance policies, a health insurer shall file with the department the weighted average rate increase for all large group benefit designs during the 12-month period ending January 1 of the following calendar year. The average shall be weighted by the number of insureds in each large group benefit design in the insurerâs large group market and adjusted to the most commonly sold large group benefit design by enrollment during the 12-month period. For the purposes of this section, the large group benefit design includes, but is not limited to, benefits such as basic health care services and prescription drugs. The large group benefit design shall not include cost sharing, including, but not limited to, deductibles, copays, and coinsurance. (b) (1) A health insurer shall also submit any other information required pursuant to any regulation adopted by the department to comply with this article. (2) The department shall conduct a public meeting in every even-numbered year regarding large group rates within four months of posting the aggregate information described in this section in order to permit a public discussion of the reasons for the changes in the rates, benefits, and cost sharing in the large group market. The meeting shall be held in either the Los Angeles area or the San Francisco Bay area. (c) A health insurer subject to subdivision (a) shall also disclose the following for the aggregate rate information for the large group market submitted under this section: (1) For rates effective during the 12-month period ending January 1 of the following year, number and percentage of rate changes reviewed by the following: (A) Plan year. (B) Segment type, including whether the rate is community rated, in whole or in part. (C) Product type. (D) Number of insureds. (E) The number of products sold that have materially different benefits, cost sharing, or other elements of benefit design. (2) For rates effective during the 12-month period ending January 1 of the following year, any factors affecting the base rate, and the actuarial basis for those factors, including all of the following: (A) Geographic region. (B) Age, including age rating factors. (C) Occupation. (D) Industry. (E) Health status factors, including, but not limited to, experience and utilization. (F) Employee, and employee and dependents, including a description of the family composition used. (G) Insuredsâ share of premiums. (H) Insuredsâ cost sharing, including cost sharing for prescription drugs. (I) Covered benefits in addition to basic health care services, as defined in Section 1345 of the Health and Safety Code, and other benefits mandated under this article. (J) Which market segment, if any, is fully experience rated and which market segment, if any, is in part experience rated and in part community rated. (K) Any other factor that affects the rate that is not otherwise specified. (3) (A) The insurerâs overall annual medical trend factor assumptions for all benefits and by aggregate benefit category, including hospital inpatient, hospital outpatient, physician services, prescription drugs and other ancillary services, laboratory, and radiology for the applicable 12-month period ending January 1 of the following year. (B) The amount of the projected trend separately attributable to the use of services, price inflation, and fees and risk for annual policy trends by aggregate benefit category, including hospital inpatient, hospital outpatient, physician services, prescription drugs and other ancillary services, laboratory, and radiology. (C) A comparison of the aggregate per insured per month costs and rate of changes over the last five years for each of the following: (i) Premiums. (ii) Claims costs, if any. (iii) Administrative expenses. (iv) Taxes and fees. (D) Any changes in insured cost sharing over the prior year associated with the submitted rate information, including both of the following: (i) Actual copays, coinsurance
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