1. An individual health benefit plan is renewable at the option of the individual, except in any of the following cases:
a. Nonpayment of the required premiums.
b. Fraud or misrepresentation.
c. The insured individual becomes eligible for Medicare coverage under Title XVIII of the federal Social Security Act.
d. The carrier elects not to renew all of its individual health benefit plans in the state. In such case, the carrier shall provide notice of the decision not to renew coverage to all affected individuals and to the commissioner in each state in which an affected insured individual is known to reside at least ninety days prior to the nonrenewal of the health benefit plan by the carrier. Notice to the commissioner under this paragraph shall be provided at least three working days prior to the notice to the affected individuals.
e. The commissioner finds that the continuation of the coverage would not be in the best interests of the policyholders or certificate holders, or would impair the carrier's ability to meet its contractual obligations.
2. A carrier that elects not to renew all of its individual health benefit plans in this state shall be prohibited from writing new individual health benefit plans in this state for a period of five years from the date of the notice to the commissioner.
3. With respect to a carrier doing business in an established geographic service area of the state, this section applies only to the carrier's operations in the service area.
95 Acts, ch 5, §8
© 1997 Cornell College and League of Women Voters of Iowa
Last update: Mon Jan 27 16:05:08 CST 1997