South Carolina Code 38-71-1400. Election to become reinsuring insurer
Current as of: 2023 | Check for updates
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(A) A small employer insurer may elect to become a reinsuring insurer and operate under the provisions of this section and § 38-71-1410.
(B) Each reinsuring insurer shall conduct business with its members and subscribers, and administer claims for coverage reinsured by the program, in the same manner as it would administer health claims that it writes without reinsurance.
Terms Used In South Carolina Code 38-71-1400
- Insurer: means an entity that provides health insurance in this State. See South Carolina Code 38-71-1330
- Program: means the South Carolina Small Employer Insurer Reinsurance Program pursuant to § 38-71-1410. See South Carolina Code 38-71-1330
- Reinsuring insurer: means a small employer insurer participating in the reinsurance program pursuant to § 38-71-1410. See South Carolina Code 38-71-1330
- Small employer: means , in connection with a health insurance plan with respect to a calendar year and a plan year, any person, firm, corporation, partnership, association, or employer, as defined in Section 3(5) of the Employee Retirement Income Security Act of 1974, that is actively engaged in business that, on at least fifty percent of its working days during the preceding calendar year, employed no more than fifty eligible employees or employed an average of not more than fifty employees on business days during the preceding calendar year and who employs at least one employee on the first day of the plan year. See South Carolina Code 38-71-1330