Massachusetts § 25Q Premium payment plans;  loss reserves;  bad debt reserves

Massachusetts Statutes

§ 25Q — Premium payment plans; loss reserves; bad debt reserves

Massachusetts § 25Q

Part IADMINISTRATION OF THE GOVERNMENT

Title XXILABOR AND INDUSTRIES

Ch. 152WORKERS' COMPENSATION

This text of Massachusetts § 25Q (Premium payment plans; loss reserves; bad debt reserves) is published on Counsel Stack Legal Research, covering Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mass. Gen. Laws ch. 152, § 25Q (2026).

Text

Section 25Q.

(1)Each group shall establish with the approval of the commissioner of insurance a premium payment plan which shall include an initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year and payment of the balance of each member's annual premium within the first eight months of that fund year in monthly or quarterly installments.

(2)Each group shall establish and maintain actuarially appropriate loss reserves which shall include reserves for known claims and expenses associated therewith and claims incurred but not reported and expenses associated therewith.

(3)Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups.[ Subsection (4) e

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Section 25Q. (1) Each group shall establish with the approval of the commissioner of insurance a premium payment plan which shall include an initial payment by each member of at least twenty-five per cent of that member's annual premium before the start of the group's fund year and payment of the balance of each member's annual premium within the first eight months of that fund year in monthly or quarterly installments.(2) Each group shall establish and maintain actuarially appropriate loss reserves which shall include reserves for known claims and expenses associated therewith and claims incurred but not reported and expenses associated therewith.(3) Each group shall establish and maintain bad debt reserves based on the historical experience of the group or other groups.[ Subsection (4) effective until November 20, 2024. For text effective November 20, 2024, see below.](4) Subsections (1) and (3) shall not apply to public employer groups; provided, however, that public employer groups shall establish a premium payment plan acceptable to the commissioner.[ Subsection (4) as amended by 2024, 238, Sec. 266 effective November 20, 2024. For text effective until November 20, 2024, see above.](4) Subsections (1) and (3) shall not apply to public employer groups; provided, however, that public employer groups shall establish a premium payment plan acceptable to the commissioner. Subsection (1) shall not apply to groups that have been in existence for at least 5 years and have established a premium payment plan acceptable to the commissioner.