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§ 9509. Annual report of operations

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 40 Pa.C.S.A. InsuranceEffective: July 2, 2019

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 40 Pa.C.S.A. Insurance (Refs & Annos)
Part V. Health Insurance Markets Oversight
Chapter 95. Reinsurance Program (Refs & Annos)
Effective: July 2, 2019
40 Pa.C.S.A. § 9509
§ 9509. Annual report of operations
Currentness
(a) Report.--No later than November 1 of the year following the applicable benefit year or 60 calendar days following the final disbursement of reinsurance payments for the applicable benefit year, whichever is later, the department shall prepare a financial report for the applicable benefit year. The report must include, at a minimum, the following information for the benefit year that is the subject of the report:
(1) Money deposited into the Reinsurance Fund.
(2) Requests for reinsurance payments received from eligible insurers.
(3) Reinsurance payments made to eligible insurers.
(4) Administrative and operational expenses incurred for the reinsurance program.
(b) Comparative report.--No later than 60 days after individual market health insurance rates are final, the department shall prepare a report summarizing the quantifiable impact of the reinsurance program on individual market health insurance rates for the following plan year.
(c) Distribution of reports.--The department shall:
(1) Electronically transmit the reports under this section to:
(i) The President pro tempore of the Senate.
(ii) The Minority Leader of the Senate.
(iii) The Speaker of the House of Representatives.
(iv) The Minority Leader of the House of Representatives.
(v) The chair and minority chair of the Appropriations Committee of the Senate and the chair and minority chair of the Appropriations Committee of the House of Representatives.
(vi) The chair and minority chair of the Banking and Insurance Committee of the Senate and the chair and minority chair of the Insurance Committee of the House of Representatives.
(2) Post the reports under this section on the department's publicly accessible Internet website.

Credits

2019, July 2, P.L. 294, No. 42, § 1, imd. effective.
40 Pa.C.S.A. § 9509, PA ST 40 Pa.C.S.A. § 9509
Current through Act 13 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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