(a) (1) Each small employer carrier desiring to operate as a risk-assuming carrier shall make application to the Commissioner within 30 days of January 4, 1993 to operate as a risk-assuming carrier, pursuant to § 7209 of this title.

(2) The Commissioner may permit a carrier to modify its status at any time for good cause shown.

(3) The Commissioner shall establish an application process for small employer carriers seeking to change their status under this subsection.

Terms Used In Delaware Code Title 18 Sec. 7208

  • Carrier: means any entity that provides health insurance in this State. See Delaware Code Title 18 Sec. 7202
  • Commissioner: means the Insurance Commissioner of this State. See Delaware Code Title 18 Sec. 7202
  • Health benefit plan: means any hospital or medical expense policy or certificate, hospital or medical service corporation contract, health maintenance organization or health service corporation subscriber contract or any other similar health contract, including a high deductible medical expense policy used in conjunction with a medical savings account, subject to the jurisdiction of the Commissioner available for use, offered or sold to an individual in the State of Delaware. See Delaware Code Title 18 Sec. 7202
  • Program: means the Delaware Small Employer Reinsurance Program created by § 7210 of this title [repealed]. See Delaware Code Title 18 Sec. 7202
  • Reinsuring carrier: means a small employer carrier participating in the reinsurance program pursuant to § 7210 of this title [repealed]. See Delaware Code Title 18 Sec. 7202
  • Risk-assuming carrier: means a small employer carrier whose application is approved by the Commissioner pursuant to § 7209 of this title. See Delaware Code Title 18 Sec. 7202
  • Small employer: means any person, firm, corporation, partnership or association that is actively engaged in business that, on at least 50% of its working days during the preceding calendar quarter, employed no more than 50 eligible employees, the majority of whom were employed within this State. See Delaware Code Title 18 Sec. 7202
  • Year: means a calendar year, and is equivalent to the words "year of our Lord. See Delaware Code Title 1 Sec. 302

(b) A reinsuring carrier that applies and is approved to operate as a risk-assuming carrier shall not be permitted to continue to reinsure any health benefit plan with the Program. Such a carrier shall pay a prorated assessment based upon business issued as a reinsuring carrier for any portion of the year that the business was reinsured.

68 Del. Laws, c. 340, § ?1;