2013 Oregon Revised Statutes
Volume : 16 - Financial Institutions, Insurance
Chapter 743 - Health and Life Insurance
Section 743.961 - Payment procedures.

(1) No later than 45 days following the end of a calendar quarter, an insurer shall pay an assessment at the rate of one percent of the gross amount of premiums earned by the insurer during that calendar quarter that were derived from health plan policies delivered or issued for delivery in Oregon.

(2) The assessment shall be paid to the Department of Consumer and Business Services and shall be accompanied by a verified form prescribed by the department together with any information required by the department, that reports:

(a) All health plans issued or renewed by the insurer during the calendar quarter for which the assessment is paid; and

(b) The gross amount of premiums by line of insurance, derived by the insurer from all health plans issued or renewed by the insurer during the calendar quarter for which the assessment is paid.

(3) The assessment imposed under this section is in addition to and not in lieu of any tax, surcharge or other assessment imposed on an insurer.

(4) Any rate filed for the department's approval may include amounts paid by the insurer under this section as a valid element of administrative expense or retention. [2009 c.867 §5; 2010 c.34 §1]

Note: See second note under 743.951.

Note: Section 8, chapter 867, Oregon Laws 2009, provides:

Sec. 8. (1) Sections 5 [743.961] and 6 [743.990] of this 2009 Act apply to premiums earned by an insurer during the period from October 1, 2009, through September 30, 2013.

(2) Notwithstanding any provision of contract or statute, including ORS 743.737 and 743.767, beginning October 1, 2009, insurers may include in their rates an additional one percent of the existing rate. To the extent the existing rate was approved by the Department of Consumer and Business Services, the resulting rate, including the additional one percent, shall be considered an approved rate. If an insurer increases its rates under this subsection, the insurer shall include in all consumer billings a notice explaining the increase in a form prescribed by the department. This subsection applies to any rate approved by or filed for the department's approval prior to the effective date of this 2009 Act [September 28, 2009] and to any contract of insurance not subject to the department's rate approval authority. [2009 c.867 §8]