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| Life, Health, and Managed Care | |
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Life, Health and Managed Care is charged by statute to review the contractual provisions of all Ohio-licensed life and health and accident policies to ensure they are in compliance with Ohio and federal laws. There are over 1,200 insurance companies licensed to offer life and health insurance in the State of Ohio. Along with policy and rate review, the office also licenses multiple employer trusts, alliances and health insuring corporations and accredits independent review organizations. Life, Health and Managed Care verifies that rates are actuarially sound, values the reserve liabilities for domestic life insurance companies, ensures that contracts adhere to state and federal laws and regulations, and provides guidance to the industry and legislature on life and health insurance issues. Life, Health and Managed Care is responsible for licensing
and monitoring the activities of all health insuring corporations – also
known as HMOs – operating in Ohio. It reviews rates,
contracts and certificates of authority, major modifications
and other pertinent filings submitted by HMOs. |