The Rates and Forms section is responsible for reviewing and approving insurance company filings for products and pricing. The section serves to protect consumers by ensuring that filings comply with Vermont's laws, regulations and bulletins. In addition, the section serves as a technical resource for consumers, industry and other interested parties.
Chapter 128 of Title 8, Vermont Statutes Annotated, requires insurance companies doing business in Vermont to submit rate information to the Department of Financial Regulation in order to monitor competition.
Certification: The filer must certify using the following language that the filing has been properly completed and is in compliance with all applicable Vermont laws, regulations and policies:
Certification statement: "I certify that the attached filing has been completed in accordance with Vermont Regulation I-2010-03 and is in compliance with all applicable Vermont laws and Regulations."
Below is a complete list of Sub TOI's that must submit the above Certification statement:
Per Title 8: §3879-3883 / Fire & Casualty and §4711 / Property & Casualty policies, mid-term cancellations must be submitted to the insurance commissioner for approval. All mid-term cancellation requests must have the following information:
Welcome to Department of Financial Regulation's health insurance rate review home page. We hope the information on the following pages will help give you a basic understanding about health insurance premiums/rates as well as the review and approval process that is undertaken by the state to establish these premiums/rates. Check back often as we will update regularly with new information.
All health insurance rates are subject to review in Vermont. Filings are reviewed by a Department Rate Analyst, the Director of Rates and Forms, and an Actuarial Consultant.
Filings for any rate request related to comprehensive major medical plans are also reviewed by the Health Care Ombudsman and the Green Mountain Care Board (GMC Board). The process is detailed below.
