Section 58-40-33 - Minimum loss ratio for small employer health benefit plans

58-40-33. Minimum loss ratio for small employer health benefit plans.Premium rates for individual health benefit plans shall produce a minimum lifetime loss ratio of not less than seventy-five percent. The director may promulgate rules pursuant to chapter 1-26 which modify the minimum loss ratio required based on the specific design of the product or other objective and pertinent criteria. Source: SL 1994, ch 381, §1.