58-18-63 Minimum loss ratio for employer health benefit plans--Application of section.
Minimum loss ratio for employer health benefit plans--Application of section.
Premium rates for employer health benefit plans shall produce a minimum lifetime loss ratio of not
less than seventy-five percent. The director may promulgate rules pursuant to chapter 1-26 which
modify the minimum loss ratio required based upon the specific plan design or other objective and
pertinent criteria. An insurer is not required to meet the minimum loss ratio on each policy issued.
An insurer which does not make a filing specifying the blocks of business for which it will meet the
minimum loss ratio requirements of this section will be required to meet the minimum loss ratio
requirement in the aggregate on its entire employer block of business in this state. This section does
not apply to any insurer which is required to comply with § 58-17-64.
Source: SL 1994, ch 381, § 1; SL 1995, ch 280.