How many days must a Health Insuring Corporation (HIC) wait for the superintendent's approval after filing a change in the solicitation document?

In Ohio, Health Insuring Corporations (HICs) are required to follow specific regulations when making changes to their solicitation documents, which include materials used to market their health insurance products. According to Ohio insurance law, the HIC must submit these changes to the superintendent and wait for a designated period before the changes become effective.

The appropriate waiting period for the superintendent’s approval after a change has been filed is 60 days. This timeframe allows the superintendent to review the changes for compliance with state regulations and ensure that they align with consumer protections. If the superintendent does not respond within that 60-day period, the changes may be assumed to be approved.

Understanding this time frame is crucial for HICs as it influences their planning and implementation of marketing strategies and ensures compliance with regulatory practices.