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Texas Insurance Code - INS § 1501.320. Assessments to Recover Net Losses

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The board shall recover any net loss of the system by assessing each reinsured health benefit plan issuer an amount determined annually by the board based on information in annual statements and other reports required by and filed with the board.

(b) The board shall establish, as part of the plan of operation, a formula by which to make assessments against reinsured health benefit plan issuers. With the approval of the commissioner, the board may periodically change the assessment formula as appropriate. The board shall base the assessment formula on each reinsured issuer's share of:

(1) the total premiums earned in the preceding calendar year from small employer health benefit plans delivered or issued for delivery by reinsured health benefit plan issuers to small employer groups in this state; and

(2) the premiums earned in the preceding calendar year from newly issued small employer health benefit plans delivered or issued for delivery during the calendar year by reinsured health benefit plan issuers to small employer groups in this state.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1501.320. Assessments to Recover Net Losses - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1501-320/

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