26.1-17-26. Procedure for submitting rate filings

26.1-17-26. Procedure for submitting rate filings 1. Each health service corporation shall file with the commissioner every manual of classifications, rates, rating formulas, rating systems, and rules applicable thereto, and any modification of the foregoing which it proposes to use. Each filing must state the proposed effective date thereof and must indicate the character and extent of the coverage contemplated. When a filing is not accompanied by supporting information, and the commissioner does not have sufficient information to determine whether the filing meets the requirements of this chapter, the commissioner shall require the corporation to furnish supporting information, and the waiting period will commence on the date the information is furnished. The information furnished in support of a filing must include the: a. Contract of benefits; b. Current rate structure; c. Claims experience for the most recent period up to three years; d. Claims experience projection for the next eighteen months; e. Letter of opinion from the corporation actuary; and f. Judgment of the corporation and its interpretation of the supporting data. A filing and any supporting information is open to public inspection after the filing becomes effective. 2. The commissioner shall review the filings pursuant to sections 26.1-30-19 through 26.1-30-21 to determine whether they meet the requirements of this chapter. Upon written application by the corporation, the commissioner may authorize a filing which the commissioner has reviewed to become effective before the expiration of the waiting period or any extension thereof. 3. Under the rules the commissioner has adopted, the commissioner may, by written order, suspend or modify the requirements of filing as to any kind of contract for health services, subdivision thereof, or combination thereof, or as to any class of risks, the rates for which cannot practically be filed before they are used. The orders and rules must be made known to the health service corporation affected. The commissioner may make an examination as the commissioner deems advisable to ascertain whether any rates affected by an order meet the standards set forth in section 26.1-17-25.