Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-101 - CHILD ONLY INDIVIDUAL HEALTH COVERAGE
Rule 120-2-101-.04 - Child Only Premium Rates
Current through Rules and Regulations filed through September 23, 2024
(1) Pursuant to O.C.G.A. §33-29B-3(g), insurers shall submit proposed health insurance rates that include current 2012 actuarial supporting assumptions on relevant plan design, benefits and limitations and that are reasonably related to contemporary plan designs and rates on file with and approved by this Office for the subject insurer. Insurers may, but are not required to obtain rate approval, if such rates are currently filed and approved by the Commissioner.
(2) An insurer may impose a surcharge on any individual who enrolls in a child-only policy and has not had prior creditable coverage in the 63 day period preceding the date of the application. The amount of the surcharge may be up to, but shall not exceed, 50 percent of the premium rate that would be charged to an individual who did have prior credible coverage in the 63 day period preceding the date of the application.
