(a) The board of directors of the exchange shall adopt written procedures, in accordance with the provisions of section 1-121, for: (1) Adopting an annual budget and plan of operations, including a requirement of board approval before the budget or plan may take effect; (2) hiring, dismissing, promoting and compensating employees of the exchange, including an affirmative action policy and a requirement of board approval before a position may be created or a vacancy filled; (3) acquiring real and personal property and personal services, including a requirement of board approval for any nonbudgeted expenditure in excess of five thousand dollars; (4) contracting for financial, legal, bond underwriting and other professional services, including a requirement that the exchange solicit proposals at least once every three years for each such service that it uses; (5) issuing and retiring bonds, bond anticipation notes and other obligations of the authority; (6) establishing requirements for certification of qualified health plans that include, but are not limited to, minimum standards for marketing practices, network adequacy, essential community providers in underserved areas, accreditation, quality improvement, uniform enrollment forms and descriptions of coverage, and quality measures for health benefit plan performance; and (7) implementing the provisions of sections 38a-1080 to 38a-1090, inclusive, or other provisions of the general statutes. Any such written procedures adopted pursuant to this subdivision shall not conflict with or prevent the application of regulations promulgated by the Secretary under the Affordable Care Act.
(b) The board of directors of the exchange shall submit to the joint standing committee of the General Assembly having cognizance of matters relating to insurance a copy of each audit of the exchange conducted by an independent auditing firm, not later than seven days after the audit is received by said board of directors.
(P.A. 11-53, S. 3, 4; P.A. 13-247, S. 138; June Sp. Sess. P.A. 17-2, S. 115.)
History: P.A. 11-53 effective July 1, 2011; P.A. 13-247 amended Subsec. (a) by making a technical change and adding Subdivs. (8) and (9) re all-payer claims database program and notice and hearing for alleged failure to comply with reporting requirements, effective June 19, 2013; June Sp. Sess. P.A. 17-2 amended Subsec. (a) by deleting former Subdiv. (8) re all-payer claims database, former Subdiv. (9) re providing notice to reporting entity of alleged failure to comply with reporting requirements and making technical changes, effective October 31, 2017.