Bill Text: VA SB717 | 2018 | Regular Session | Chaptered
Bill Title: Accident and sickness insurance; rate filings, agent commissions.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2018-03-30 - Governor: Acts of Assembly Chapter text (CHAP0708) [SB717 Detail]
Download: Virginia-2018-SB717-Chaptered.html
Be it enacted by the General Assembly of Virginia:
1. That §38.2-316.1 of the Code of Virginia is amended and reenacted as follows:
§38.2-316.1. Premium rates.
A. The Commission shall review and approve accident and
sickness insurance premium rates applicable to (i) health benefit plans issued
in this the Commonwealth in the individual and small group
markets, as those terms are defined in §38.2-3431, and (ii) health benefit
plans providing health insurance coverage, as defined in §38.2-3431, in the
individual market to residents of the Commonwealth through a group trust,
association, purchasing cooperative, or other group that is not an employer
plan. The Commission shall promulgate regulations to establish standards
applicable to such review and approval.
B. Premium rate filings for a health benefit plan issued in the Commonwealth in the individual and small group markets shall include a description of agent commissions and any limitations or exceptions as they relate to the payment of such commissions.
