Section 3 AAC 31.500 - Purpose and applicability(a) The purpose of 3 AAC 31.500 - 3 AAC 31.549 is to (1) implement a reinsurance program for high risk residents in the individual health care insurance market in order to stabilize health care insurance premiums;(2) encourage participation in this state's individual health care insurance market; and(3) allow the director to apply to the United States Secretary of Health and Human Services under 42 U.S.C. 18052 for a waiver of applicable provisions of P.L. 111-148 (Patient Protection and Affordable Care Act).(b) Except for a health care insurance plan providing grandfathered health care coverage and a health care insurance plan providing transitional health care coverage, 3 AAC 31 .500 - 3 AAC 31.549 applies to a health care insurance plan in the individual market offered on or off a health care exchange.(c) A health care insurer shall cede to the program the risk associated with insuring an eligible high risk resident who is issued a health care insurance plan in the individual market on or after January 1, 201 7 and before the cessation of the program.(d) Nothing in 3 AAC 31 .500 - 3 AAC 31.549 requires a health care insurer to offer or issue a health care insurance plan in the individual market.Eff. 2/2/2013, Register 205; am 12/22/2016, Register 220, January 2017Authority:AS 21.06.090
AS 21.55.220
AS 21.55.400
AS 21.96.120