Subd. 1. Compliance.

No health carrier, as defined in section 62A.011, shall renew any individual health plan, as defined in section 62A.011, except in compliance with this section.

Subd. 2. Premium adjustments.

Any increase or decrease in premiums by a health carrier that is caused by section 62A.65, is subject to the premium adjustments in this subdivision. A health carrier shall determine renewal premiums for any coverage under subdivision 1 as follows:

1. (1) one-half of the premium increase or decrease may be charged upon the first renewal of the coverage on or after July 1, 1993; and
2. (2) the remaining half of the premium increase or decrease may be charged upon the first renewal of the coverage one year after the date of the renewal under clause (1).