Section 58-17-64 - Minimum loss ratio for individual health benefit plans.
58-17-64. Minimum loss ratio for individual health benefit plans. Premium rates for individual health benefit plans shall produce a minimum lifetime loss ratio of not less than sixty-five percent. The director may promulgate rules pursuant to chapter 1-26 which modify the minimum loss ratio required based on the specific design of the product or other objective and pertinent criteria.
Source: SL 1994, ch 381, § 4.