Annual Statement Supplement Web-Based Reporting Instructions
For the Year Ending: December 31, 2011 (Report Due: March 1, 2012 or May 1, 2013 for HMO only)
Vermont law requires insurance carriers that conduct business in Vermont to submit an annual accurate and complete report of their business. Under 8 V.S.A. § 3561, the Commissioner may require the filing of supplemental information.
Who is Not Required to File:
If you are an insurance carrier that conducts business in Vermont but are NOT licensed to write and do not carry products in Accident and Health lines of business, then you are NOT required to file the following supplemental report.
Electronic Filing:
In 2007, the Department of Banking, Insurance, Securities and Health Care Administration implemented a web-based filing system for the Health Care Administration Annual Statement Supplemental Report. The web-based reporting form is similar to the paper form used in prior years, but includes a few additional new categories and allows users the convenient ability to submit the form electronically. We would appreciate your continued cooperation in filing electronically in an effort to streamline the data collection process.
Important Things to Know Before You Complete the Online Submission Form:
What's New on the Form This Year:
1) All companies that are licensed to write and carry Accident and Health Lines of business in Vermont, but may not have business in Vermont at this time, are still required to fill out contact information for the company, legal counsel and the person filing the form. Please note that a legal email category has been added to the contact information section.
2) BISHCA is requiring insurance companies to report information about insurance coverage provided to residents of Vermont regardless of whether the situs of the contract is in Vermont. Thus, if a policy contract is issued outside of Vermont but covers Vermont residents, insurers must report information about this insurance coverage to the Department as part of its reporting obligation for the Annual Statement Supplement Report (ASSR). For your reference you may view the memorandum regarding this additional reporting requirement.
3) The Department will collect information about lapsed policies for each type of insurance sold to Vermont residents.
4) Medicare Part C no longer has 5 sub-categories.
5) There are two separate reporting items in the Group Business sections for Comprehensive Major Medical Categories. The first row excludes “High Deductible Health Plans” (HDHP). The second row is only the “HDHP” portion of the business. Be aware that this is different than in years past, when the first row was the total that included HDHP.
Technical Guidance for Submitting the Form:
1) The online reporting form can be used in the following web browsers:
- Internet Explorer version 6 and greater.
- Mozilla FireFox version 2.
2) For your reference, a page lists the definitions of the categories in the Annual Statement Supplemental Online Form.
3) On the web based form, the enter key acts like the “SUBMIT” button. You must use the tab key or your mouse to navigate through the form before submitting the form. Do not hit the return button before you reach the end otherwise the form will submit before you are done.
4) All field entries in the first three sections must start with a capital letter and must be filled out completely. Otherwise the form will not allow you to submit the information.
5) If you are licensed in Accident and Health Lines of business and do not have any business to report then click the submit button at the bottom of the screen after you have filled out all the necessary contact information. At this point you are finished with the submission process.
5a.) If you are licensed in Accident and Health lines of business in Vermont and do have business to report please see below.
- You are given four choices to choose from: Individual Vermont Situs Business; Individual Non-Vermont Situs Business; Group Vermont Situs Business; and Group Non-Vermont Situs Business. Please check all that apply and the appropriate submission templates will appear according to the boxes you check.
- The Individual Business (Vermont situs) category is first, followed by Individual Business (Non-Vermont Situs), then the Group Business Categories in the same respective order.
- All fields will self populate with zero’s.
- Click on the necessary fields to change the values as needed.
- Please do not use comma’s dollar signs or other symbols. If you need to represent a negative value ( pertains only to Premium Equivalent and Losses Incurred categories) please do so by using a negative sign before the number.
- When you click on an entry field two boxes appear at the top of the screen. These boxes provide definitions of the column fields and the row categories. These definitions match the definitions in PDF and Word files linked above.
- When you click anywhere outside an entry box these definition boxes will disappear.
6) When all fields are entered, please double check all entries to make sure they are accurate and in the correct boxes.
7) When you are ready to submit the report click the “SUBMIT” button. You will be notified with a message that the data was submitted and then re-directed to a new page that will allow you to print a copy of the report as submitted. We strongly advise you to print a copy for your records.
8) If you are filing for multiple entities, you must close the browser window that contains the final copy of your report before you can start a new entry. You cannot use the Back Button to begin a new entry/entity.