Wyoming § 26-34-123 Summary orders and supervision

Wyoming Statutes

§ 26-34-123 — Summary orders and supervision

Wyoming·Title 26 Insurance Code·Ch. 34 HEALTH MAINTENANCE ORGANIZATIONS

(a)Whenever the commissioner determines that the financial condition of any health maintenance organization is such that its continued operation might be hazardous to its enrollees, creditors, or the general public, or that it has violated any provision of this act, he may, after notice and hearing, order the health maintenance organization to take action reasonably necessary to rectify the condition or violation, including but not limited to one (1) or more of the following:

(i)Reduce the total amount of present and potential liability for benefits by reinsurance or other method acceptable to the commissioner;

(ii)Reduce the volume of new business being accepted;

(iii)Reduce expenses by specified methods;

(iv)Suspend or limit the writing of new business for a period of time;

(v)Incr

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(a) Whenever the commissioner determines that the
financial condition of any health maintenance organization is
such that its continued operation might be hazardous to its
enrollees, creditors, or the general public, or that it has
violated any provision of this act, he may, after notice and
hearing, order the health maintenance organization to take
action reasonably necessary to rectify the condition or
violation, including but not limited to one (1) or more of the
following:
(i) Reduce the total amount of present and potential
liability for benefits by reinsurance or other method acceptable
to the commissioner;
(ii) Reduce the volume of new business being
accepted;
(iii) Reduce expenses by specified methods;
(iv) Suspend or limit the writing of new business for
a period of time;
(v) Increase the health maintenance organization's
capital and surplus by contribution; or
(vi) Take other steps the commissioner deems
appropriate under the circumstances, including those steps
authorized in W.S. 26-3-132(b) and (c) for insurers.
(b) For purposes of this section, the violation by a
health maintenance organization of any law of this state to
which the health maintenance organization is subject shall be
deemed a violation of this act.
(c) The commissioner is authorized, by rules and
regulations, to set uniform standards and criteria for early
warning that the continued operation of any health maintenance
organization might be hazardous to its enrollees, creditors or
the general public and to set standards for evaluating the
financial condition of any health maintenance organization. The
standards shall be consistent with the purposes expressed in
subsection (a) of this section.
(d) The remedies and measures available to the
commissioner under this section shall be in addition to, and not
in lieu of, the remedies and measures available to the
commissioner under the provisions of chapter 28 of this code.