Title 40, INSURANCE

(a) Eligibility for payment.--An insurer shall be eligible for a reinsurance payment if: (1) The claims costs for a reinsurance-eligible enrollee's covered benefits in a benefit year exceed the attachment point. (2) The eligible insurer has implemented and documented reasonable c…

(a) General rule.--Consistent with Federal requirements, the department shall pay the following from the Reinsurance Fund: (1) Administrative expenses of the reinsurance program, including the annual audit required under section 9508 (relating to annual audit). (2) Reinsurance pa…

(a) No entitlement.--The provision of reinsurance program money or benefits accrued through the Reinsurance Fund may not constitute an entitlement derived from the Commonwealth or a claim on any other money of the Commonwealth. (b) Contingency with respect to Federal money.--Notw…

(a) Annual audit.--The reinsurance program shall be examined and audited annually by an independent certified public accounting firm. The audit shall, at a minimum: (1) Assess compliance with the requirements of this chapter. (2) Identify any material weaknesses or significant de…

(a) Report.--No later than November 1 of the year following the applicable benefit year or 60 calendar days following the final disbursement of reinsurance payments for the applicable benefit year, whichever is later, the department shall prepare a financial report for the applic…

(a) Establishment and administration of Reinsurance Fund.--The Reinsurance Fund is established as a special fund within the State Treasury. The Reinsurance Fund shall be administered by the department for the purposes set forth in this chapter, including the deposit of Federal mo…

Notwithstanding any other provision of law and for the limited purpose of fulfilling the requirements under this chapter, procurement of contracts and agreements for the implementation and operation of the reinsurance program initiated within one year of the effective date of thi…

(a) Reports and access.--An insurer shall, without charge, report information and provide access to and furnish records as the department requests in order for the department to: (1) Prepare the State innovation waiver application submitted under section 9501(a) (relating to appl…

(a) General rule.--Except as provided for in this section, all working papers, recorded information, documents and copies of working papers, recorded information and documents produced by, obtained by or disclosed to the department or any other person in the course of exercising …

(a) General rule.--Except as provided in subsection (b), the department, a Commonwealth agency or person or entity under contract with the department for the reinsurance program, or an authorized representative, agent or employee of any of them, may not be subject to civil or cri…

Nothing in this chapter shall be construed to limit or supersede the regulatory authority vested with the department to regulate the business of insurance within this Commonwealth, including health insurance policies offered on or off the exchange.

Upon publication of the notice under section 9703(b) (relating to action by commissioner), the department shall initiate steps to cease operation of the reinsurance program and shall cease operation of the reinsurance program no later than 15 months after publication of the notic…