§36-7204. Payment deadlines.
372 words·~2 min read·
/ok/title-36-insurance/36-7204A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. Except as provided in subsection B of this section, the access payments required to be paid by health carriers in Section 3
of this act shall be due and reported to the Insurance Commissioner on claims paid and incurred beginning July 1, 2010.
B. The access payments required in Section 3 of this act by a health carrier that is a third-party administrator or a self-insured employer shall be reported and paid on the basis of claims incurred and paid beginning July 1, 2010.
C. Access payments shall be made monthly to the Insurance Commissioner and are due thirty
(30)days after the end of each month, except that access payments for third-party administrators for groups of fifty or fewer members may be made annually not less than sixty
(60)days after the close of the plan year.
D. All monies collected by the Insurance Commissioner pursuant to this act shall be paid into the State Treasury weekly and transferred monthly to the Health Carrier Access Payment Revolving Fund created in Section 2 of this act.
E. The Insurance Commissioner may refuse to renew, suspend or revoke, after notice and hearing, the certificate of authority to transact insurance in this state of any health carrier failing to pay an access payment. In addition to failing to renew, suspension or revocation of the certificate of authority, the Insurance Commissioner may assess civil penalties in accordance with Section 619 of Title 36 of the Oklahoma Statutes against any health carrier failing to pay an access payment or may take any other enforcement action authorized by the Oklahoma Insurance Code to collect any unpaid access payments.
F. Reasonable attorney fees shall be awarded to the Insurance Commissioner if judicial action is necessary for the enforcement of this act. Attorney fees shall be based upon those prevailing in the community. Attorney fees collected by the Insurance Commissioner without the assistance of the Attorney General shall be credited to the State Insurance Commissioner Revolving Fund.
G. The Insurance Commissioner shall promulgate rules and the procedures necessary for the implementation and administration of this act. Added by Laws 2010, c. 300, § 4. NOTE: Editorially renumbered from § 7104 of this title to avoid duplication in numbering.