Utah § 31A-8-211 Deposit.

Utah Statutes

§ 31A-8-211 — Deposit.

Utah § 31A-8-211

Title 31AInsurance Code

Ch. 31A-8Health Maintenance Organizations and Limited Health Plans

Part 31A-8-2Domestic Organizations

This text of Utah § 31A-8-211 (Deposit.) is published on Counsel Stack Legal Research, covering Utah primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Utah Code Ann. § 31A-8-211 (2026).

Text

(1)Except as provided in Subsection (2), each health maintenance organization authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the sum of:

(1)(a) $100,000; and

(1)(b) 50% of the greater of:

(1)(b)(i) $900,000;

(1)(b)(ii) 2% of the annual premium revenues as reported on the most recent annual financial statement filed with the commissioner; or

(1)(b)(iii) an amount equal to the sum of three months uncovered health care expenditures as reported on the most recent financial statement filed with the commissioner.

(2)(2)(a) The commissioner may exempt a health maintenance organization from the deposit requirement of Subsection (1) if:

(2)(a)(i) the commissioner determines that the enrollees' interests are adequately protect

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(1) Except as provided in Subsection (2), each health maintenance organization authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the sum of:

(1)(a) $100,000; and
(1)(b) 50% of the greater of:
(1)(b)(i) $900,000;
(1)(b)(ii) 2% of the annual premium revenues as reported on the most recent annual financial statement filed with the commissioner; or
(1)(b)(iii) an amount equal to the sum of three months uncovered health care expenditures as reported on the most recent financial statement filed with the commissioner.
(2) (2)(a) The commissioner may exempt a health maintenance organization from the deposit requirement of Subsection (1) if:
(2)(a)(i) the commissioner determines that the enrollees' interests are adequately protected;
(2)(a)(ii) the health maintenance organization has been continuously authorized to do business in this state for at least five years; and
(2)(a)(iii) the health maintenance organization has $5,000,000 surplus in excess of the health maintenance organization's company action level RBC as defined in Subsection 31A-17-601(8)(b).
(2)(b) The commissioner may rescind an exemption given under Subsection (2)(a).
(3) (3)(a) Each limited health plan authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the minimum capital or permanent surplus plus 50% of the greater of:
(3)(a)(i) .5 times minimum required capital or minimum permanent surplus; or
(3)(a)(ii) (3)(a)(ii)(A) during the first year of operation, 10% of the limited health plan's projected uncovered expenditures for the first year of operation;
(3)(a)(ii)(B) during the second year of operation, 12% of the limited health plan's projected uncovered expenditures for the second year of operation;
(3)(a)(ii)(C) during the third year of operation, 14% of the limited health plan's projected uncovered expenditures for the third year of operation;
(3)(a)(ii)(D) during the fourth year of operation, 18% of the limited health plan's projected uncovered expenditures during the fourth year of operation; or
(3)(a)(ii)(E) during the fifth year of operation, and during all subsequent years, 20% of the limited health plan's projected uncovered expenditures for the previous 12 months.
(3)(b) Projections of future uncovered expenditures shall be established in a manner that is approved by the commissioner.
(4) A deposit required by this section may be counted toward the minimum capital or minimum permanent surplus required under Section 31A-8-209.