31A-30-205.   Health benefit plans offered in the defined contribution market.
     (1) An insurer who chooses to offer a health benefit plan in the defined contribution market must offer the following:
     (a) one health benefit plan that:
     (i) is a federally qualified high deductible health plan;
     (ii) has the lowest deductible permitted for a federally qualified high deductible health plan as adjusted by federal law; and
     (iii) does not exceed annual out-of-pocket maximum equal to three times the amount of the annual deductible; and
     (b) one health benefit plan with benefits that have an actuarial value at least 15% greater that the plan described in Subsection (1)(a).
     (2) The provisions of Subsection (1) do not limit the number of health benefit plans an insurer may offer in the defined contribution market. An insurer who offers the health benefit plans required by Subsection (1) may also offer any other health benefit plan in the defined contribution market if the health benefit plan provides benefits that are actuarially richer than the benefits required in Subsection (1)(a).

Enacted by Chapter 12, 2009 General Session
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Last revised: Thursday, May 28, 2009