§ 84a.1. Purpose.

 The purpose of this chapter is to set forth the minimum standards of valuation required by 40 Pa.C.S. §  7124(c)(1) and (2) (relating to minimum standard for accident and health insurance contracts).

Authority

   The provisions of this §  84a.1 amended under sections 206, 506, 1501 and 1502 of The Administrative Code of 1929 (71 P.S. § §  66, 186, 411 and 412); sections 301.1 and 311.1 of The Insurance Department Act of 1921 (40 P.S. § §  71.1 and 93); and 40 Pa.C.S. §  7124(c)(1) and (2).

Source

   The provisions of this §  84a.1 amended September 17, 1999, effective September 18, 1999, 29 Pa.B. 4865; amended October 22, 2021, effective October 23, 2021, 51 Pa.B. 6600. Immediately preceding text appears at serial page (337121).

Notes of Decisions

   General Comments

   Approval of rates and reserves are matters within the exclusive jurisdiction of the Insurance Department and are based on statutory formula, actuarial information and discretionary determinations. Ciamaichelo v. Independence Blue Cross, 814 A.2d 800 (Pa. Cmwlth. 2002); appeal granted at 829 A.2d 1158 (Pa. 2003).

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