§ 27-8-10-0.5 — Dissolution of the association

Indiana § 27-8-10-0.5

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 8: LIFE, ACCIDENT, AND HEALTH
• Ch. 10: Comprehensive Health Insurance

Text

5. (a) Except as provided in this section, the
insurance operations of the association cease on the later of:
(1) the date on which a health benefit exchange (as defined in IC 27-19-2-8) begins operating in Indiana; or
(2) December 31, 2013.
(b) A claim for payment under an association policy must be made
to the association not later than the later of:
(1) sixty (60) days after the date on which the insurance
operations cease under subsection (a); or
(2) March 1, 2014.
(c) An appeal or grievance under this chapter must be resolved not
later than ninety (90) days after the date on which the insurance
operations cease under subsection (a).
(d) Balance billing under this chapter by a health care provider that
is not a member of a health care provider network arrangement used by
the association is prohibited after the later of:
(1) ninety (90) days after the date on which the insurance
operations cease under subsection (a); or
(2) March 30, 2014.
(e) The association shall, not later than June 30, 2013, submit to the
commissioner a plan of dissolution for the association. The following
apply to a plan of dissolution submitted under this subsection:
(1) The plan of dissolution must provide for the following:
(A) Continuity of care for an individual who is covered under
an association policy and is an inpatient on the date on which
the insurance operations cease under subsection (a).
(B) A final accounting described in section 2.1(g) of this
chapter of the:
(i) assessments; and
(ii) cessation of the liability;
of members of the association.
(C) Resolution of any net asset deficiency.
(D) Cessation of all liability of the association.
(E) Final dissolution of the association.
(2) The plan of dissolution may provide that, with the approval of
the board and the commissioner, a power or duty of the
association may be delegated to a person that is to perform
functions similar to the functions of the association.
(f) The commissioner shall, after notice and hearing, approve a plan
of dissolution submitted under subsection (e) if the commissioner
determines that the plan:
(1) is suitable to ensure the fair, reasonable, and equitable
dissolution of the association; and
(2) complies with subsection (e).
(g) A plan of dissolution submitted under subsection (e) is effective
upon the written approval of the commissioner.
(h) An action by or against the association must be filed not more
than one (1) year after the date on which the insurance operations cease
under subsection (a).
(i) This chapter expires on the date on which final dissolution of the
association occurs under the plan of dissolution approved by the
commissioner under subsection (f).
(j) Funds remaining in the association on the date on which final
dissolution of the association occurs must be transferred into the state
general fund.
(k) The association, or the person to which the association delegates
powers or duties under subsection (e), may implement this section in
accordance with the plan of dissolution approved by the commissioner
under subsection (f).

Legislative History

As added by P.L.278-2013, SEC.26.