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Texas Insurance Code - INS § 1501.326. Deferment of Assessment

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

(a) A reinsured health benefit plan issuer may petition the commissioner for a deferment in whole or in part of an assessment imposed by the board.

(b) The commissioner may defer all or part of the assessment if the commissioner determines that payment of the assessment would endanger the ability of the reinsured health benefit plan issuer to fulfill its contractual obligations.

(c) The board shall assess the amount of a deferred assessment against other reinsured health benefit plan issuers in a manner consistent with the basis for assessment established by this subchapter.

(d) A reinsured health benefit plan issuer that receives a deferment:

(1) is liable to the system for the amount deferred; and

(2) until the issuer pays the outstanding assessment, may not:

(A) market, deliver, or issue for delivery a small employer health benefit plan; or

(B) reinsure any individual or group with the system.

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Cite this article: FindLaw.com - Texas Insurance Code - INS § 1501.326. Deferment of Assessment - last updated January 01, 2024 | https://codes.findlaw.com/tx/insurance-code/ins-sect-1501-326/

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