Arkansas Administrative Code
Agency 003 - DEPARTMENT OF COMMERCE
Division 22 - Insurance Department
Rule 003.22.23-003 - Proposed New Rule 69 - Establishment of Audit Process Concerning Qualified Payment Amounts for No Surprises Act
Current through Register Vol. 49, No. 9, September, 2024
Section 1. Authority
This Rule is issued pursuant to the authority granted the Arkansas Insurance Commissioner ("Commissioner") under Ark. Code Ann. § 23-61-108(a)(1) and by Ark. Code Arm. § 23-61-108(b)(l) to promulgate rules necessary for the effective regulation of the business of insurance and as required for this State to be in compliance with federal laws, namely the No Surprises Act (NBA) of the Consolidated Appropriations Act, 2021, Pub. L. No. 116-120, and Act 580 of 2023, codified as A.C.A. § 23-66-216.
Section 2. Purpose
The purpose of this Rule is to authorize the Commissioner to establish an effective state audit process to ensure compliance with the requirements of the NBA related to the determination and development of methodology concerning the calculation of a qualified payment amount.
Section 3. Definitions
Unless otherwise separately defined in this rule and consistent with state law, the terms or phrases as used in this rule shall follow the definitions of such terms or phrases as defined in A.C.
Section 4. Applicability and Scope
This Rule applies to all health carriers that offer health benefit plans in this State which are issued or renewed on or after January 1, 2024.
Section 5. Audit Requirement
Section 6. Enforcement
The penalties, license actions or orders as authorized under Ark. Code Arm. § 23-66-210 shall apply to violations of this Rule.
Section 7. Effective Date
This Rule shall be effective upon approval by the Arkansas Legislative Council and shall go into effect ten (10) days after filing a final rule with the Secretary of State.