Indiana insurance commissioner would weigh affordability before rate decisions

The insurance commissioner would weigh affordability before deciding on covered rate changes. The review covers rate increases and decreases for accident and sickness insurance policies and plans run by health maintenance organizations, or HMOs. The commissioner would consider whether the plans are affordable and whether the companies have taken effective steps to improve affordability. Before approving a new accident and sickness insurance product, the commissioner would also have to consider these points. The bill lists July 1, 2026 as the start date if enacted.

The insurance commissioner could reject a covered rate increase above the inflation threshold. This applies to rate increases for accident and sickness insurance policies and HMO plans. The threshold is the latest published federal consumer inflation measure that leaves out food and energy, plus one percentage point. An increase above that threshold would not be rejected automatically. The bill lists July 1, 2026 as the start date if enacted.

The insurance commissioner would have to work to protect consumers and encourage fair treatment of care providers. These duties cover accident and sickness insurance and health maintenance organizations. The commissioner would also guide these companies toward affordable, high-quality care and appropriate access to care. The bill lists July 1, 2026 as the start date if enacted.