§ 26-34-119 — Powers of insurers and hospital and health service corporations

(a) Any insurance company licensed in this state, or a
hospital or health service corporation authorized to do business
in this state, either directly or through a subsidiary or
affiliate, may organize and operate a health maintenance
organization under this chapter. Notwithstanding any other law
to the contrary, any two (2) or more such insurance companies,
hospitals or health service corporations, or subsidiaries or
affiliates thereof, may jointly organize and operate a health
maintenance organization. The business of insurance is deemed
to include the providing of health care by a health maintenance
organization owned or operated by an insurer or a subsidiary
thereof.
(b) Notwithstanding any other provision of this code, any
insurer or any hospital or health service corporation may
contract with a health maintenance organization to provide
insurance or similar protection against the cost of care
provided through health maintenance organizations and to provide
coverage in the event of the failure of the health maintenance
organization to meet its obligations.
(c) The enrollees of a health maintenance organization
constitute a permissible group under this code or any other laws
of this state. Among other things, under any contract specified
the insurer or hospital or health service corporation may make
benefit payments to health maintenance organizations for health
care services rendered by providers.