Section 449.953 - Annual fee for insurers: Amount; notice; administrative fine for failure to pay1. Each admitted health insurer shall pay an annual fee to cover the costs of carrying out the provisions of NRS 449.450 to 449.530, inclusive, and for the support of the Legislative Committee on Health Care. For each fiscal year, the total amount authorized by the Legislature for this purpose in the biennial budget for that fiscal year must be divided by the number of admitted health insurers on the first day of that fiscal year, pursuant to the records of the Commissioner of Insurance, to determine the amount owed by each insurer for all purposes, including the $50 fee for the support of the Legislative Committee on Health Care.2. The Department will prepare and mail a notice to each insurer subject to the fee specified in subsection 1. The notice must include: (a) The amount of the fee and a statement identifying that portion of the fee which is used for the support of the Legislative Committee on Health Care;(b) The day on which payment of the fee is due, which must not be less than 30 days after receipt of the notice; and(c) The penalty for failure to pay the fee as specified in subsection 3.3. Failure to pay the fee subjects the insurer to an administrative fine not to exceed $500 for each day that the fee remains unpaid after it is due.Nev. Admin. Code § 449.953
Added to NAC by Dep't of Human Resources, eff. 1-2-90; A 9-16-92; 10-20-93