§ 27-66-2 - Findings. - Rhode Island Statutes

SECTION 27-66-2

   § 27-66-2  Findings. – The general assembly finds and declares that:

   (1) Rhode Island has a proud history of health insurancecompanies including health insurance corporations, health maintenanceorganizations, non-profit hospital service corporations, and non-profit medicalservice corporations doing business in this state;

   (2) Nationally and regionally private investment is beingmade that results in the conversion of not-for-profit into for-profit healthinsurance corporations, health maintenance organizations, hospital servicecorporations and medical service corporations;

   (3) These health insurance organizations and corporationsprovide an important health insurance product in the community. There areconcerns that for profit health insurance organizations and corporations mayengage in practices that affect the quality of the insurance coverage in thecommunity as a whole and for more vulnerable members of society in particular;

   (4) In order to protect public health and welfare, it isnecessary to establish standards and procedures for health insuranceorganizations and corporation conversions.