Section 3 AAC 31.505 - Establishment of high risk reinsurance program(a) There is established within the Comprehensive Health Insurance Association a program to reinsure high risk residents of this state diagnosed with one or more of the covered conditions under 3 AAC 31.540. The program will be referred to as the Alaska Reinsurance Program.(b) The Alaska Reinsurance Program will have a segregated fund established within the association. The segregated fund will hold all receipts and make all disbursements related to the program. All obligations of the Alaska Reinsurance Program, including payment or reimbursements of claims and expenses, will be limited to the monies available within the program fund.(c) The association shall administer the reinsurance program under a contract with the director. The program will have its own plan of operation to establish administrative and accounting procedures necessary or proper to implement and administer the program.(d) The Alaska Reinsurance Program becomes effective January 1, 2017.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