The primary mission of the Division of Insurance is to monitor the solvency of its licensees in order to promote a healthy, responsive and willing marketplace for consumers who purchase insurance products.
The Massachusetts Division of Insurance is part of the U.S. insurance regulatory framework which is a highly coordinated state-based national system designed to protect policyholders and to serve the greater public interest through the effective regulation of the U.S. insurance marketplace. Through the National Association of Insurance Commissioners (NAIC), U.S. insurance regulators, establish national standards and best practices, conduct peer reviews and coordinate their regulatory oversight to better protect the interests of consumers while ensuring a strong, viable insurance marketplace. U.S. insurance regulators also participate in the International Association of Insurance Supervisors (IAIS) along with the NAIC by participating in all its major standard setting initiatives, including working with fellow regulators from around the world to better supervise cross-border insurers, identifying systemic risk in the insurance sector, and creating international best practices.
Health Insurance Information Sessions
The Division of Insurance will be hosting a series of information sessions on health insurance related issues that have arisen of the last year. These information sessions will allow for conversations with interested parties and the public so that the Division of Insurance can hear comments and learn about whether future guidance may be helpful about how to address certain issues. More information on these sessions can be found here
Risk Bearing Provider Organizations: Risk Certificate Waiver and Risk Certificate Application Information, and Webinar Information
The Massachusetts Division of Insurance (the "Division") has promulgated its newest regulation 211CMR 155 et seq., "Risk-Bearing Provider Organizations" (the "Regulation"). The Division drafted this Regulation in furtherance of its responsibility to implement the requirements of Massachusetts General Law Chapter 176T ("Chapter 176T") concerning Risk-Bearing Provider Organizations (“RBPO”) in a manner that will promote the development of alternate payment contracts containing downside risk while establishing appropriate safeguards for Massachusetts' health care delivery system and the patients it serves. Chapter 176T mandates that the Division must "certify" provider organizations on an annual basis that take on certain financial risk through alternative payment contracts with insurance carriers. The purpose of this certification is ensure that provider organizations entering into alternate payment contracts with downside risk do not assume excessive financial risk that could threaten their financial solvency. For more information including webinar information click here
Division of Insurance Information on Long Term Care Insurance
Report of the Working Group on Rate Stabilization
Interim report on Long Term Care Rate Stabilization
Final report on Long Term Care Insurance Rate Stabilization
Based on input provided by the LTCI Rate Stabilization Advisory Group
Draft Long Term Care Insurance Regulation ( 211 CMR 65.00 )
A public hearing on the draft regulation will be scheduled later this summer.
The redlined version of the Division's regulation showing new text proposed to be added to the regulation as well as text proposed to be deleted from or moved within the regulation is posted here.
BOSTON - May 9, 2014 - Joseph G. Murphy, Commissioner of Insurance for the Commonwealth of Massachusetts, joined fellow members of the National Association of Insurance Commissioners (NAIC) in Washington, D.C. this week to confer with members of Congress on a variety of issues including the strength of the state-based system of insurance regulation, implementation of the Affordable Care Act, and reauthorization of the Terrorism Risk Insurance Program.
ESTIMATING WHAT YOUR HEALTH CARE MAY COST: A NEW TOOL
Determining the cost of a treatment or procedure can be a mysterious or baffling process for consumers. Governor Patrick is committed to price transparency and affordable health care for all Massachusetts residents; to meet those goals, Chapter 224 of the Acts of 2012 makes it mandatory that health insurance carriers provide individualized information regarding the estimated or maximum allowed charge for a proposed service as well as the estimated amount a member may be responsible to pay out-of-pocket. These estimates are to be based on information available to the member's insurance company at the time the consumer requests the estimate.
A chart found here details the current phone numbers and website addresses for each company's cost estimator program.
The Division of Insurance has updated Surplus Lines filing forms for Calendar year 2014 and adopted new procedures for filing Form BR-7 Affidavit By Insured (effective January 1, 2014)
The Board of Appeal has posted its December Hearing Schedule
Division of Insurance Online Services
- Merged Market Rate Filing Overview - March 5, 2014 (updated) file size 1MB
- Group Products
- Commercial Buyers
- Insurance Listings
- Qualified Associations and Group Purchasing Cooperatives
- Regulatory Information
Better Rates for Better DriversMassachusetts is now allowing auto insurers to compete for good drivers, giving consumer more choices than ever before. Competition results in better rates for better drivers across the Commonwealth. You can use our premium comparison website to see examples from each company and the range of premiums you could see if you shop around. When you are ready to actually shop for automobile insurance, use our step by step auto insurance shopping checklist. Print your copy HERE .