§ 521F.8 — Confidential hearings

Iowa § 521F.8

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 521F: RISK-BASED CAPITAL REQUIREMENTS FOR HEALTH ORGANIZATIONS

Text

1. A health organization receiving a notification pursuant to subsection 2 is entitled
to a confidential hearing before the insurance division, at which the health organization
may challenge a determination or action by the commissioner. Upon receipt of the health
organization’s request for a hearing, the commissioner shall set a date for the hearing,
which shall be not less than ten and not more than thirty days after the date of the health
organization’s request.
2. Ahealthorganizationshallnotifythecommissionerofthehealthorganization’srequest
for a confidential hearing within five days after the occurrence of any of the following:
a. Notification to a health organization by the commissioner of an adjusted risk-based
capital report.
b. Notification to a health organization by the commissioner of both of the following:
(1) Thatthehealthorganization’srisk-basedcapitalplanorrevisedrisk-basedcapitalplan
is unsatisfactory.
(2) That the notification pursuant to this paragraph constitutes a regulatory-action-level
event with respect to the health organization.
c. Notification to a health organization by the commissioner that the health organization
has failed to adhere to its risk-based capital plan or revised risk-based capital plan and
that the failure has a substantial adverse effect on the ability of the health organization to
eliminate the company-action-level event in accordance with its risk-based capital plan or
revised risk-based capital plan.
7 RISK-BASED CAPITAL REQUIREMENTS FOR HEALTH ORGANIZATIONS, §521F.10
d. Notification to a health organization by the commissioner of a corrective order with
respect to the health organization.