10 U.S.C. § 12526 — Premiums

FEDERAL · 10 U.S.C. · Chapter 1214

Premiums

10 U.S.C. § 12526

Chapter1214 — READY RESERVE MOBILIZATION INCOME INSURANCE

This text of 10 U.S.C. § 12526 (Premiums) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

10 U.S.C. § 12526.

Text

(a)Establishment of Rates.—

(1)The Secretary, in consultation with the Board of Actuaries, shall prescribe the premium rates for insurance under the insurance program.

(2)The Secretary shall prescribe a fixed premium rate for each $1,000 of monthly insurance benefit. The premium amount shall be equal to the share of the cost attributable to insuring the member and shall be the same for all members of the Ready Reserve who are insured under the insurance program for the same benefit amount. The Secretary shall prescribe the rate on the basis of the best available estimate of risk and financial exposure, levels of subscription by members, and other relevant factors.

(b)Level Premiums.—The premium rate prescribed for the first year of insurance coverage of an insured member shall be contin

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(a) Establishment of Rates.—(1) The Secretary, in consultation with the Board of Actuaries, shall prescribe the premium rates for insurance under the insurance program.
(2) The Secretary shall prescribe a fixed premium rate for each $1,000 of monthly insurance benefit. The premium amount shall be equal to the share of the cost attributable to insuring the member and shall be the same for all members of the Ready Reserve who are insured under the insurance program for the same benefit amount. The Secretary shall prescribe the rate on the basis of the best available estimate of risk and financial exposure, levels of subscription by members, and other relevant factors.
(b) Level Premiums.—The premium rate prescribed for the first year of insurance coverage of an insured member shall be continued without change for subsequent years of insurance coverage, except that the Secretary, after consultation with the Board of Actuaries, may adjust the premium rate in order to fund inflation-adjusted benefit increases on an actuarially sound basis.

Source Credit

History

(Added Pub. L. 104–106, div. A, title V, §512(a)(1), Feb. 10, 1996, 110 Stat. 301.)

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Bluebook (online)

10 U.S.C. § 12526, Counsel Stack Legal Research, https://law.counselstack.com/usc/10/12526.