Nonprofit Medical Service Corporations

SECTION 27-20-61

§ 27-20-61. Medical loss ratio reporting and rebates.

(a) A nonprofit medical service corporation offering group or individual health insurance coverage of a health benefit plan, including a grandfathered health plan, shall comply with the provisions of Section 2718 of the Public Health Service Act as amended by the federal Affordable Care Act [42 U.S.C. § 300gg-18], in accordance with regulations adopted thereunder.

(b) Nonprofit medical service corporations required to report medical loss ratio and rebate calculations and any other medical loss ratio and rebate information to the U.S. Department of Health and Human Services shall concurrently file such information with the commissioner.

History of Section.
(P.L. 2012, ch. 256, § 8; P.L. 2012, ch. 262, § 8.)