O.C.G.A.
O.C.G.A.

O.C.G.A. § 33-43-4 (2019)

Reasonable return of benefits required; minimum standards for loss ratios

✓ O.C.G.A. — 2019 edition (Public.Resource.Org Release 73)
Code text and O.C.G.A. statutory annotations on this page reflect the 2019 Official Code of Georgia Annotated (Public.Resource.Org Release 73, 2019-08-21; public domain per Georgia v. Public.Resource.Org, 2020). The Syfert case-law annotations in Notes of Decisions, below, are current.
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Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged. The Commissioner shall issue reasonable regulations to establish minimum standards for loss ratios of medicare supplement policies on the basis of incurred claims experience, or incurred health care expenses where coverage is provided by a health maintenance organization on a service rather than reimbursement basis, and earned premiums in accordance with accepted actuarial principles and practices.

History

Code 1981, § 33-43-4, enacted by Ga. L. 1992, p. 1395, § 1.

Annotations

JUDICIAL DECISIONS Interest assumption. - Insurer was properly required to include an interest assumption in calculating the insurer’s loss projections, to support the insurer’s application for a rate increase, as that was necessary to return to policyholders rea-

sonable benefits in relation to the premiums charged, and it was not a retroactive law. United Am. Ins. Co. v. Ins. Dep’t of Ga., 258 Ga. App. 735, 574 S.E.2d 830 (2002).

Notes of Decisions
Cited in 2 cases, 2002–2002 · leading case: United Amer. Ins. v. Ins. Dept. of Ga., 574 S.E.2d 830 (Ga. Ct. App. 2002).
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United Amer. Ins. v. Ins. Dept. of Ga., 574 S.E.2d 830 (Ga. Ct. App. 2002). · cites it 6× “These calculations are performed by actuaries, and the rates are governed by OCGA § 33-43-4, which provides: Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged.”
United Am. Ins. v. Ins. Dep't, 574 S.E.2d 830 (Ga. Ct. App. 2002). · cites it 6× “These calculations are performed by actuaries, and the rates are governed by OCGA § 33-43-4, which provides: Medicare supplement policies shall return to policyholders benefits which are reasonable in relation to the premium charged.”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.