§ 27-66-2. Findings.
The general assembly finds and declares that:
(1) Rhode Island has a proud history of health insurance companies including health insurance
corporations, health maintenance organizations, nonprofit hospital service corporations,
and nonprofit medical service corporations doing business in this state;
(2) Nationally and regionally, private investment is being made that results in the conversion
of not-for-profit into for-profit health insurance corporations, health maintenance
organizations, hospital service corporations, and medical service corporations;
Free access — add to your briefcase to read the full text and ask questions with AI
§ 27-66-2. Findings.
The general assembly finds and declares that:
(1) Rhode Island has a proud history of health insurance companies including health insurance
corporations, health maintenance organizations, nonprofit hospital service corporations,
and nonprofit medical service corporations doing business in this state;
(2) Nationally and regionally, private investment is being made that results in the conversion
of not-for-profit into for-profit health insurance corporations, health maintenance
organizations, hospital service corporations, and medical service corporations;
(3) These health insurance organizations and corporations provide an important health
insurance product in the community. There are concerns that for-profit health insurance
organizations and corporations may engage in practices that affect the quality of
the insurance coverage in the community as a whole and for more vulnerable members
of society in particular;
(4) In order to protect public health and welfare, it is necessary to establish standards
and procedures for health insurance organizations and corporation conversions.