Requires that Oklahoma health carriers (insurers authorized to do business in the state) must submit health plan premium rates to the Insurance Department for information purposes only. Oklahoma is one of the few states that does not have an effective rate review program.
Each application and health benefit plan issued pursuant to this section shall contain the following language at the beginning of the document in bold type:
“This standard health benefit plan does not provide state-mandated health benefits normally required in accident and health insurance policies in the State of Oklahoma. This standard health benefit plan may provide a more affordable health insurance policy for you although, at the same time, it may provide you with fewer health benefits than those normally included as state-mandated health benefits in policies in the State of Oklahoma.”