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Companies will have 10 days after the approval of a submitted filing to update their information in the rate comparison portal and will be notified of this requirement through SERFF. If 10 days have passed since a filing was approved and the company still has not updated their information in the rate comparison portal, they will be submitted to the GADOI enforcement division.
Most states other than Oregon have posted few or no 2017 individual health filings online, either on the SERFF system or on their own rate filing access systems, at this point.
The NAIC and SERFF also get administrative fees and a license fee from the Interstate Insurance Product Regulation Commission for services.
See also: Feds offer states $40 million in PPACA cash SERFF rising up to take on health care exchange activities
This instance involves the System for Electronic Rate and Form Filing (SERFF), used by insurers and state insurance departments for filing policy forms and rates.
Addressing the transmission of data between State and federal departments, Julienne Fritz, an NAIC staff member, discussed the status of SERFF (System for Electronic Rate and Form Filing), and its role of facilitating information between state and federal offices.
Registration involves paying a $5,000-per-company annual fee, another $500 fee for each compact filing, the usual state filing and retaliatory fees, and System for Electronic Rates and Form Filing (SERFF) submission fees.
CMS says it will start collecting the required data via e-mail, but hopes to align the data collection process with the federal Health Insurance Oversight System (HIOS) and the System for Electronic Rate and Form Filing (SERFF), a system developed by the National Association of Insurance Commissioners (NAIC).
Seamless integration with SERFF doesn't require additional data entry or manual process.
During the opening session both Praeget and host commissioner, Kevin McCatty, emphasized successes of state-based regulation including producer licensing streamlining, SERFF, suitability of product sales for seniors and the Interstate Insurance Product Regulation Commission.
Many states posted complete, or nearly complete, versions of the rate filings insurers submitted through the official System for Electronic Rate and Form Filing (SERFF).