Wash. Admin. Code § 284-44-350 - Records and reporting
(1)
Each health care service contractor shall maintain records which separately
reflect the amount of service benefits and the amount of reimbursement or
indemnity benefits. Reasonable approximation based on paid claims data may be
used to project incurred indemnity benefits. Such amounts shall be reported to
the commissioner on forms prescribed by the commissioner and shall be filed
with the annual statement and at such other times as the commissioner may
require. The report shall be accompanied by an inventory and valuation of any
securities which are used to satisfy the depository requirement. If the amount
of the guarantee is not sufficient to satisfy the requirements, an appropriate
additional amount shall be obtained, and shall be deposited with, or evidenced
to, the commissioner within thirty days of the filing of the report.
(2) A health care service contractor using
either a policy of insurance or a surety bond to provide for indemnification
shall notify the insurance commissioner, health care services division, sixty
days in advance of termination or cancellation of the contract or policy of
insurance or surety bond.
Notes
Statutory Authority: RCW 48.44.050. 82-23-010 (Order R 82-6), § 284-44-350, filed 11/5/82, effective 1/1/83.
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