Exempted plans - Calculation of increase in premium cost.

  1. Law
  2. Oklahoma Statutes
  3. Insurance
  4. Exempted plans - Calculation of increase in premium cost.

Checkout our iOS App for a better way to browser and research.

1. A health benefit plan that, at the end of its base period, experiences a greater than two percent (2%) increase in premium costs pursuant to providing benefits for treatment of mental health and substance use disorders shall be exempt from the provisions of Section 6060.11 of this title.

2. To calculate base-period-premium costs, the health benefit plan shall subtract from premium costs incurred during the base period, both the premium costs incurred during the period immediately preceding the base period and any premium cost increases attributable to factors unrelated to benefits for treatment of mental health and substance use disorders.

3.a.To claim the exemption provided for in paragraph 1 of this section a health benefit plan shall provide to the Insurance Commissioner a written request signed by an actuary stating the reasons and actuarial assumptions upon which the request is based.

  • b.The Commissioner shall verify the information provided and shall approve or disapprove the request within thirty (30) days of receipt.
  • c.If, upon investigation, the Commissioner finds that any statement of fact in the request is found to be knowingly false, the health benefit plan may be subject to suspension or loss of license or any other penalty as determined by the Commissioner with regard to health maintenance organizations.

Added by Laws 1999, c. 153, § 3, eff. Jan. 1, 2000. Amended by Laws 2020, c. 75, § 3, eff. Nov. 1, 2020; Laws 2021, c. 478, § 29, emerg. eff. May 12, 2021.


Download our app to see the most-to-date content.