§ 27-67-4 - Establishment of a regional health insurance market.
SECTION 27-67-4
§ 27-67-4 Establishment of a regionalhealth insurance market. – The health insurance commissioner shall undertake a review of the existing lawsand regulations pertaining to the business of health insurance in this state,and in other New England states. On or before March 1, 2009, the healthinsurance commissioner shall submit a report to the general assembly on whatchanges would be necessary to the laws and/or regulations of Rhode Island inorder to meet the goal of enabling health insurers licensed in other NewEngland states to do business in Rhode Island without a separate applicationfor licensure in Rhode Island. The report shall address the policy implicationsof implementing the identified changes in law and regulations, and thepotential advantages and disadvantages of creating a regional health insurancemarket.
The report shall further address the extent to whichlicensure is a barrier to bringing other health insurers into the Rhode Islandmarket. The report shall further address the manner in which licensure can beautomatically granted to those insurers licensed in other New England stateswhile still requiring that such insurers otherwise remain bound by thenon-licensure related laws and regulations governing the administration ofhealth insurance benefit plans in Rhode Island. The report shall include ananalysis of barriers to the creation of a regional health insurance market anda proposed timeline for implementing all changes that would be needed toestablish a regional health insurance market.