Texas § IN.1651.053 - LOSS RATIO STANDARDS
Full text of Texas The Texas Constitution § IN.1651.053 — LOSS RATIO STANDARDS, with citation guidance and answers to common questions.
§ IN.1651.053. LOSS RATIO STANDARDS
LOSS RATIO STANDARDS. (a) A long-term care benefit plan must provide a benefit plan holder with benefits that are reasonable in relation to the rates charged. (b) The commissioner shall adopt reasonable rules to establish minimum standards for loss ratios of long-term care benefit plans on the basis of: (1) incurred claims experience; (2) earned premiums; (3) the period for which rates are computed to provide coverage; (4) experienced and projected trends; (5) concentration of experience within early benefit plan duration; (6) expected claim fluctuations; (7) experience refunds; (8) adjustments; (9) dividends; (10) renewability features; (11) all relevant expense factors; (12) interest; (13) reserves; (14) mix of business by risk classification; and (15) product features otherwise affecting claims experience. (c) Annually, each entity providing a long-term care benefit plan in this state shall: (1) file its rates, rating schedule, and supporting documentation to demonstrate compliance with the applicable loss ratio standards of this state; and (2) comply with any other filing requirement adopted by the commissioner relating to loss ratios. (d) Rules adopted under this section shall be no less favorable to the holders of long-term care benefit plans than any model laws, rules, and regulations adopted in connection with minimum standards for benefits for long-term care benefit plans. Added by Acts 2003, 78th Leg., ch. 1274, Sec. 4, eff. April 1, 2005.
Frequently Asked Questions About Texas § IN.1651.053
What does The Texas Constitution § IN.1651.053 cover?
Section IN.1651.053 ("LOSS RATIO STANDARDS") is part of the The Texas Constitution, the codified statutory law of Texas. 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 Texas § IN.1651.053?
A common citation format is "The Texas Constitution § IN.1651.053" (Texas). 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 Texas law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Texas official source linked on this page or consult a licensed Texas attorney.
How does Texas § IN.1651.053 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Texas 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 Texas.