(a)  An insurer shall not issue a stop-loss insurance policy that:

(1)  Has an annual attachment point for claims incurred per individual that is lower than twenty thousand dollars ($20,000);

(2)  Has an annual aggregate attachment point that is lower than one hundred twenty percent (120%) of expected claim; and

(3)  Provides direct coverage of healthcare expenses of an individual.

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Terms Used In Rhode Island General Laws 27-8.2-3

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.

(b)  The commissioner may adopt rules that carry out the requirements of this chapter.

History of Section.
P.L. 2013, ch. 86, § 1; P.L. 2013, ch. 92, § 1.