A health insurance issuer may not establish an index rate and make the market-wide adjustments pursuant to § 20:06:22:33, or make the plan-level adjustments pursuant to § 20:06:22:33, more or less frequently than annually, except as provided in this section.

A health insurance issuer in the small group market may establish index rates and make the market-wide adjustments pursuant to § 20:06:22:33, and make the plan-level adjustments pursuant to § 20:06:22:33, no more frequently than quarterly. Any changes to rates must have effective dates of January 1, April 1, July 1, or October 1. Such rates may only apply to coverage issued or renewed on or after the rate effective date and will apply for the entire plan year of the group health plan.

Source: 45 SDR 45, effective October 10, 2018.

General Authority: SDCL 58-17-4.2 , 58-17-87 , 58-18B-18 , 58-18B-36.

Law Implemented: SDCL 58-17-4.1 , 58-17-87 , 58-18B-18 , 58-18B-36.

Prior versions effective: 2013-06-10.