Indiana Code 27-1-36-42.1. Action by commissioner after mandatory control level event with respect to health maintenance organization or limited service health maintenance organization
Current as of: 2023 | Check for updates
|
Other versions
Sec. 42.1. (a) If a mandatory control level event occurs with respect to a health maintenance organization or a limited service health maintenance organization, the commissioner shall take the action necessary to place the health maintenance organization or limited service health maintenance organization under regulatory control under IC 27-13.
(c) If the commissioner takes action against a health maintenance organization or a limited service health maintenance organization under an adjusted RBC report, the health maintenance organization or limited service health maintenance organization is entitled to the protections under IC 27-9-2 pertaining to summary proceedings.
(b) A mandatory control level event is sufficient grounds for the commissioner to take action against a health maintenance organization or a limited service health maintenance organization under IC 27-13 and the commissioner has the rights, powers, and duties with respect to the health maintenance organization or limited service health maintenance organization that are set forth in IC 27-13.
Terms Used In Indiana Code 27-1-36-42.1
- adjusted RBC report: means an RBC report that has been adjusted by the commissioner under section 28 of this chapter. See Indiana Code 27-1-36-2
- Commissioner: means the "insurance commissioner" of this state. See Indiana Code 27-1-2-3
- health maintenance organization: has the meaning set forth in IC 27-13-1-19. See Indiana Code 27-1-36-9.4
- limited service health maintenance organization: has the meaning set forth in IC 27-13-34-4. See Indiana Code 27-1-36-9.8
- mandatory control level event: has the meaning set forth in section 41 of this chapter. See Indiana Code 27-1-36-11
- RBC: refers to risk based capital. See Indiana Code 27-1-36-16
(d) The commissioner may forego action under subsections (a) through (c) for not more than ninety (90) days after the mandatory control level event if the commissioner finds that there is a reasonable expectation that the mandatory control level event may be eliminated within the ninety (90) day period.
As added by P.L.51-2002, SEC.9.