Section 12693.271 - Reduction of rates(a) The Legislature finds and declares that the state faces a fiscal crisis that requires unprecedented measures to reduce General Fund expenditures.(b) Notwithstanding any other provision of law, beginning the first day of the fifth month following the enactment of the 2008-09 Budget Act, the rates for the participating health, dental, and vision plans shall be set by reducing the rates that were in effect on July 1, 2007, by 5 percent, and by adjusting the July 1, 2007, rates downward to account for any reduction in the actuarial value of the benefits provided to subscribers as of the first day of the fifth month following the enactment of the 2008-09 Budget Act, associated with annual limitations on dental benefits. This requirement does not preclude the board from making other downward adjustments that it deems appropriate as a result of its annual rate negotiation process.Ca. Ins. Code § 12693.271
Added by Stats 2008 ch 758 (AB 1183),s 16, eff. 9/30/2008.