3 AAC 31.500 - Purpose and applicability
(a) The purpose of
3
AAC 31.500 -
3
AAC 31.549 is to
(1)
implement a reinsurance program for high risk residents in the individual
health care insurance market in order to stabilize health care insurance
premiums;
(2) encourage
participation in this state's individual health care insurance market;
and
(3) allow the director to apply
to the United States Secretary of Health and Human Services under
42 U.S.C.
18052 for a waiver of applicable provisions
of P.L.
111-148 (Patient Protection and Affordable Care
Act).
(b) Except for a
health care insurance plan providing grandfathered health care coverage and a
health care insurance plan providing transitional health care coverage, 3 AAC
31 .500 - 3 AAC 31.549 applies to a health
care insurance plan in the individual market offered on or off a health care
exchange.
(c) A health care insurer
shall cede to the program the risk associated with insuring an eligible high
risk resident who is issued a health care insurance plan in the individual
market on or after January 1, 201 7 and before the cessation of the
program.
(d) Nothing in 3 AAC 31
.500 - 3 AAC 31.549 requires a health care
insurer to offer or issue a health care insurance plan in the individual
market.
Notes
Authority:AS 21.06.090
AS 21.55.220
AS 21.55.400
AS 21.96.120
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