If you buy health insurance on the individual market, without help from an employer, you may want to know what Alabama is doing to protect you from unfair and unnecessary premium rate increases. Here’s a summary of the Alabama laws that govern rate increases.
- Alabama does not have prior-approval of premium rate increases for individual market policies.
- Notices of rate increases and rate filings are to be filed with the Department of Insurance “on an informational basis only.” ALA. CODE § 27-14-8; ALA. ADMIN. CODE § 482-1-024-.03.
- Rates and rate filings are not publicly available on state agency websites. Filings are considered proprietary, trade secret information and may not be disclosed to the public. ALA. ADMIN. CODE § 482-1-024-.03.
Information is based on review of state statutes and regulations and, in some cases, interviews or emails with state insurance departments.