N.J. Admin. Code § 11:20-18.8 - Election to offer at least three plans, effect on in force-plans

Current through Register Vol. 54, No. 7, April 4, 2022

(a) A carrier issuing all of the standard individual plans in the IHC market on and before January 4, 2009 that elects to offer at least three but not all of the standard individual plans after January 4, 2009, as permitted by N.J.S.A. 17B:27A-4b, that has in-force business in the plan or plans that it elects to no longer offer may:
1. Withdraw the plan or plans it elects to no longer offer pursuant to 11:20-18.6;
2. Convert the in-force business in the plan or plans it no longer offers pursuant to N.J.A.C. 11:20-24.7; or
3. Make a one-time election to continue to renew the in-force business in the plan or plans it chooses to no longer offer; provided:
i. The carrier notifies the Department in writing on or before March 1, 2009 of the plan or plans for which it will renew in-force business but which it will no longer offer; and
ii. The carrier does not withdraw such plan or plans pursuant to 11:20-18.6 until such time as the rate cap for in-force individual business established at N.J.S.A. 17B:27A-3a expires.

Notes

N.J. Admin. Code § 11:20-18.8

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