§ 27-67-2 - Findings. - Rhode Island Statutes

SECTION 27-67-2

   § 27-67-2  Findings. – The general assembly finds and declares that:

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

   (2) Nationally and regionally, insurance corporations, healthmaintenance organizations, hospital service corporations and medical servicecorporations, are being consolidated or are departing from some state insurancemarkets. Rhode Island is one of twelve (12) states with three (3) or fewerhealth insurers active in the group insurance market;

   (3) One reason cited for the departure of health insurersfrom the state of Rhode Island is the size of our population. States withlarger populations offer a greater opportunity for competition and profit; and

   (4) A regional approach to health insurance that joins RhodeIsland's health insurance market with those of the other New England states mayexpand the opportunities for regional insurers to offer insurance in RhodeIsland.