Section 38-33-160 - Operation of health maintenance organization by insurance company; contracts for cost of care(A) An insurance company licensed in this State may through a subsidiary or affiliate organize and operate a health maintenance organization under the provisions of this chapter. Any two or more such insurance companies or subsidiaries or affiliates thereof may jointly organize and operate a health maintenance organization.(B) An insurer may contract with a health maintenance organization to provide insurance or similar protection against the cost of care provided through health maintenance organizations and to provide coverage in the event of the failure of the health maintenance organization to meet its obligations. Among other things, under such contracts, the insurer may make benefit payments to health maintenance organizations for health care services rendered by providers.1993 Act No. 181, Section 633; recodified as Section 38-33-160 by 1987 Act No. 155, Section 24; Enacted as 1976 Code Section 38-25-160 by 1987 Act No. 83, Section 1.