Minn. Stat. § 62D.042
This is the official text of Minn. Stat. § 62D.042, part of Minnesota’s Stat — part of the compiled statutory law of Minnesota, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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§ 62D.042 INITIAL NET WORTH REQUIREMENT.
Official statutory text
§ Subdivision 1. Definition. For purposes of this section, if a health maintenance organization offers supplemental benefits as described in section 62D.05, subdivision 6 , "expenses" does not include any expenses attributable to the supplemental benefit.
§ Subd. 2. Initial net worth requirement. Beginning organizations shall maintain net worth of at least 8-1/3 percent of the sum of all expenses expected to be incurred in the 12 months following the date the certificate of authority is granted, or $1,500,000, whichever is greater.
§ Subd. 3. [Repealed, 1998 c 407 art 8 s 14 ]
§ Subd. 4. Reduction for reinsurance. In calculating expenses for purposes of the net worth requirement, a health maintenance organization may subtract 90 percent of the cost of premiums it pays for insurance coverage specified in section 62D.04, subdivision 1 , clause (f).
§ Subd. 5. [Repealed, 2004 c 285 art 3 s 11 ]
§ Subd. 6. [Repealed, 2004 c 285 art 3 s 11 ]
§ Subd. 7. [Repealed, 2004 c 285 art 3 s 11 ]
§ Subd. 2. Initial net worth requirement. Beginning organizations shall maintain net worth of at least 8-1/3 percent of the sum of all expenses expected to be incurred in the 12 months following the date the certificate of authority is granted, or $1,500,000, whichever is greater.
§ Subd. 3. [Repealed, 1998 c 407 art 8 s 14 ]
§ Subd. 4. Reduction for reinsurance. In calculating expenses for purposes of the net worth requirement, a health maintenance organization may subtract 90 percent of the cost of premiums it pays for insurance coverage specified in section 62D.04, subdivision 1 , clause (f).
§ Subd. 5. [Repealed, 2004 c 285 art 3 s 11 ]
§ Subd. 6. [Repealed, 2004 c 285 art 3 s 11 ]
§ Subd. 7. [Repealed, 2004 c 285 art 3 s 11 ]
Status: repealed · Read it on the official government site
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