Maine Revised Statutes Title 24 Sec. 2321-A – Standards for when filings are inadequate
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Terms Used In Maine Revised Statutes Title 24 Sec. 2321-A
- organization: means a corporation or other entity authorized by the superintendent or organized pursuant to this chapter for the purpose of providing nonprofit hospital service plans within the meaning of subsection 1, nonprofit medical service plans within the meaning of subsection 2 and any organization that provides only nonprofit health care plans within the meaning of subsection 3. See Maine Revised Statutes Title 24 Sec. 2301
- Subscriber: means an individual who has subscribed to one or more of the hospital, medical or health care service plans or contracts offered or issued by the organization or health insurance affiliate as defined in section 2308?A through an individual or family policy or group policy. See Maine Revised Statutes Title 24 Sec. 2301
- Subscriber reserves: means those reserves held by the corporation for the protection of subscribers that are the excess of the corporation's assets over its liabilities as set forth in the annual statement of the corporation as of December 31st of the year next preceding the making of the investment or contained in an audited financial report, as defined in Title 24?A, section 221?A, of more current origin prepared on the basis of statutory accounting principles; [PL 2001, c. See Maine Revised Statutes Title 24 Sec. 2301
- superintendent: means the Superintendent of Insurance of this State; and
In reviewing rates and rate modifications filed by a nonprofit hospital and medical service organization in accordance with this Title, the superintendent may not require the organization to charge rates that, taking into account investment income and the appropriate level of subscriber reserves, are inadequate to enable it to recover reasonably anticipated claims and administrative expenses and make reasonable contributions to subscriber reserves. [PL 1997, c. 344, §7 (NEW).]
SECTION HISTORY
PL 1997, c. 344, §7 (NEW).