2006 Kentucky Revised Statutes - .760   Duties and powers of insurance purchasing outlet.

304.17A-760 Duties and powers of insurance purchasing outlet. (1) An insurance purchasing outlet shall: (a)  Set and collect fees to finance necessary costs incurred in marketing, selling, servicing, and administering its services; (b)  Offer health benefit plans to eligible persons; (c)  Provide premium and voucher collection services for participating insurers; (d)  Establish and adhere to appropriate administrative and accounting procedures for operating the health purchasing outlet; (e)  Establish and adhere to rules, conditions, and procedures for insurance purchasing outlet members and participating insurers; (f)  Establish and adhere to enrollment and participation requirements for insurance purchasing outlet members; (g)  Receive, review, and conduct appeals for persons who have been denied enrollment to an insurance purchasing outlet; (h)  Demonstrate and maintain at all times proof of financial responsibility and solvency; (i)  Prepare an annual report on the operations of the insurance purchasing outlet in accordance with administrative regulations promulgated by the executive director; (j)  Establish procedures for billing and collection of premiums from insurance purchasing outlet members; (k)  Establish procedures for collecting and redeeming vouchers; and (l)  Maintain an administrator license in accordance with Subtitle 9 of Chapter 304. (2) An insurance purchasing outlet may: (a)  Contract with qualified third parties for any services necessary to carry out the powers and duties authorized or required by this chapter; (b)  Employ necessary staff; (c)  Sue or be sued; (d)  Contract with independent licensed administrators to adjust or settle claims, since the insurance purchasing outlet is prohibited from these activities in accordance with KRS 304.17A-758; and (e)  Employ, contract, or otherwise use licensed insurance agents to market and service coverage. Effective: July 15, 2002 History:Created 2002 Ky. Acts ch. 207, sec. 6, effective July 15, 2002. Legislative Research Commission Note (6/20/2005). 2005 Ky. Acts chs. 11, 85, 95, 97, 98, 99, 123, and 181 instruct the Reviser of Statutes to correct statutory references to agencies and officers whose names have been changed in 2005 legislation confirming the reorganization of the executive branch. Such a correction has been made in this section. Page 1 of 1