§ 27-20-25.2 - Health insurance rates. - Rhode Island Statutes

SECTION 27-20-25.2

   § 27-20-25.2  Health insurance rates.– No insurance company organized as a stock or mutual corporation which merges orconsolidates with, acquires ownership or control or possession of twentypercent (20%) or greater of the operating assets of, or acquires control of anon-profit hospital service corporation organized under chapter 19 of thistitle, a non-profit medical service corporation organized under this chapter ora health maintenance organization organized under chapter 41 of this title may:(1) file with any state agency for review or approval any proposed rate to beused by the company in the state, or (2) charge to any party in the state anyrate or premium, which takes into account or reflects in any manner the valueof any contribution, distribution or allocation the company expends or incursin establishing or funding a charitable foundation organized to maintain oraccount for the assets of a non-profit hospital service corporation, non-profitmedical service corporation or health maintenance organization. For any ratethat is to be charged to policy holders, regardless of whether this rate issubject to approval by a state agency under this or another chapter, thecompany shall at least thirty (30) days before implementing the rate submitunder oath to the commissioner of insurance an accounting that documents thecost structure on which the rate is based and demonstrates the company'scompliance with this section.