Pennsylvania § 9504 - Reinsurance parameters.
Full text of Pennsylvania Pennsylvania Consolidated Statutes § 9504 — Reinsurance parameters., with citation guidance and answers to common questions.
§ 9504. Reinsurance parameters.
(a) Adoption of reinsurance terms.--The department shall, after consultation with all insurers then currently participating in the exchange, and not less than 60 days before final rates for health insurance policies are required to be submitted each year, determine and adopt the attachment point, reinsurance cap and coinsurance rate applicable to the reinsurance program for the following year.
(b) Parameters.--In determining the attachment point, reinsurance cap and coinsurance rate applicable to the reinsurance program for the following year, the department shall seek to:
(1) Manage the program within the amount of total program funding available to the department.
(2) With respect to the individual market:
(i) Mitigate the impact of high-cost claims on premium rates.
(ii) Stabilize or reduce premium rates.
(iii) Increase participation.
(c) Publication and notice.--The department shall transmit notice of the adopted attachment point, reinsurance cap and coinsurance rate to the Legislative Reference Bureau for publication in the Pennsylvania Bulletin and shall:
(1) Post notice on the department's publicly accessible Internet website.
(2) Electronically send notice to the chair and minority chair of the Banking and Insurance Committee of the Senate and the chair and minority chair of the Insurance Committee of the House of Representatives.
(3) Electronically send notice to each participating insurer via a contact person or electronic mailing address, as identified by the insurer.
(d) Limitation.--After the department adopts the attachment point, reinsurance cap and coinsurance rate for the next year, the department may not, before or during that benefit year, change the attachment point, reinsurance cap or coinsurance rate in a manner less favorable to the insurers participating in the exchange at the time of adoption.
Cross References. Section 9504 is referred to in sections 9506, 9512 of this title.
Frequently Asked Questions About Pennsylvania § 9504
What does Pennsylvania Consolidated Statutes § 9504 cover?
Section 9504 ("Reinsurance parameters.") is part of the Pennsylvania Consolidated Statutes, the codified statutory law of Pennsylvania. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Pennsylvania § 9504?
A common citation format is "Pennsylvania Consolidated Statutes § 9504" (Pennsylvania). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Pennsylvania law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Pennsylvania official source linked on this page or consult a licensed Pennsylvania attorney.
How does Pennsylvania § 9504 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Pennsylvania can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Pennsylvania.