Section 58-17-142 - Maximum premium rates for plans issued prior to August 1, 2003--Rateprovisions of § 58-17-75 to apply upon carrier's discontinuance of activemarketing. - South Dakota Statutes

58-17-142. Maximum premium rates for plans issued prior to August 1, 2003--Rate provisions of § 58-17-75 to apply upon carrier's discontinuance of active marketing . Any carrier of any in force individual health benefit plan issued in accordance with § 58-17-85 prior to August 1, 2003, for which rates are established pursuant to § 58-17-75, may set and charge a maximum premium rate of not more than two and two-tenths times the base premium rate until January 1, 2005, and may set and charge a maximum premium rate of not more than two and one-half times the base premium rate for each year thereafter, if the carrier actively markets individual major medical policies in this state during the entire year of 2003 and each year thereafter. If, in any year after 2003, the carrier discontinues actively marketing individual health benefit plans in this state, the premium rate provisions of § 58-17-75 apply to those policies in force issued pursuant to § 58-17-85 from the date of the carrier's discontinuance of active marketing.

Source: SL 2003 (SS), ch 2, § 1.