2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 513B - SMALL GROUP HEALTH COVERAGE
513B.12 - APPLICATION TO BECOME A RISK-ASSUMING CARRIER.

        513B.12  APPLICATION TO BECOME A RISK-ASSUMING
      CARRIER.
         1.  A small employer carrier may apply to become a risk- assuming
      carrier by filing an application with the commissioner in a form and
      manner prescribed by the commissioner.
         2.  In evaluating an application made pursuant to this section,
      the commissioner shall consider the following factors:
         a.  The carrier's financial condition.
         b.  The carrier's history of rating and underwriting small
      employer groups.
         c.  The carrier's commitment to market fairly to all small
      employers in the state or the carrier's established geographic
      service area, as applicable.
         d.  The carrier's experience with managing the risk of small
      employer groups.
         3.  The commissioner shall provide public notice of an application
      by a small employer carrier to be a risk-assuming carrier and shall
      provide at least a sixty-day period for public comment prior to
      making a decision on the application.  If the application is not
      acted upon within ninety days of the receipt of the application by
      the commissioner, the carrier may request a hearing.
         4.  The commissioner may rescind the approval granted to a
      risk-assuming carrier under this section if the commissioner finds
      any of the following:
         a.  The carrier's financial condition will no longer support
      the assumption of risk from issuing coverage to small employers in
      compliance with section 513B.10 without the protection provided by
      the program.
         b.  The carrier has failed to market fairly to all small
      employers in the state or the carrier's established geographic
      service area, as applicable.
         c.  The carrier has failed to provide coverage to eligible
      small employers as required under section 513B.10.
         5.  A small employer carrier electing to be a risk-assuming
      carrier shall not be subject to the provisions of section 513B.13.
         6.  During the period of time that the operation of the small
      employer carrier reinsurance program is suspended pursuant to section
      513B.13, subsection 14, a small employer carrier is not required to
      make an application to become a risk-assuming carrier pursuant to
      this section.  

         92 Acts, ch 1167, § 13; 2005 Acts, ch 70, §8
         Referred to in § 513B.11