2015 Nevada Revised Statutes
Chapter 689A - Individual Health Insurance
NRS 689A.690 - Information required to be disclosed as part of solicitation and sales materials; information required to be maintained at place of business.
1. As part of its solicitation and sales materials for an individual health benefit plan, an individual carrier shall disclose, to the extent reasonable:
(a) The extent to which premium rates for an individual and the dependent of the individual are established or adjusted based upon rating characteristics;
(b) The right of the individual carrier to change premium rates and the factors, other than claims experience, that may affect changes in premium rates; and
(c) Any provisions in the individual health benefit plan relating to the renewability of the plan.
2. For the purposes of this section, an individual carrier shall maintain at its principal place of business a complete and detailed description of its rating practices and underwriting practices, including information and documentation that demonstrate that its rating methods and practices are based upon commonly accepted actuarial assumptions and are in accordance with sound actuarial principles.
(Added to NRS by 1997, 2895; A 2013, 3616)
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