§36-6060.12. Exempted plans - Calculation of increase in premium
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/ok/title-36-insurance/36-6060-12·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
cost.
1. A health benefit plan that, at the end of its base period, experiences a greater than two percent (2%) increase in premium costs pursuant to providing benefits for treatment of mental health and substance use disorders shall be exempt from the provisions of Section 6060.11 of this title.
2. To calculate base-period-premium costs, the health benefit plan shall subtract from premium costs incurred during the base period, both the premium costs incurred during the period immediately preceding the base period and any premium cost increases attributable to factors unrelated to benefits for treatment of mental health and substance use disorders.
3. a. To claim the exemption provided for in paragraph 1 of
this section a health benefit plan shall provide to
the Insurance Commissioner a written request signed by
an actuary stating the reasons and actuarial
assumptions upon which the request is based.
b. The Commissioner shall verify the information provided
and shall approve or disapprove the request within
thirty
(30)days of receipt.
c. If, upon investigation, the Commissioner finds that
any statement of fact in the request is found to be
knowingly false, the health benefit plan may be
subject to suspension or loss of license or any other
penalty as determined by the Commissioner with regard
to health maintenance organizations. Added by Laws 1999, c. 153, § 3, eff. Jan. 1, 2000. Amended by Laws 2020, c. 75, § 3, eff. Nov. 1, 2020; Laws 2021, c. 478, § 29, emerg. eff. May 12, 2021.