§ 4181. Purpose; creation of Association; coverage
§ 4181. Purpose; creation of Association; coverage (a) The purpose of this subchapter is to protect members of health care plans who reside in this State, and their beneficiaries, payees, and assignees against failure in the performance of contractual obligations due to the impairment or insolvency of the health maintenance organization operating such health care […]
§ 4182. Construction
§ 4182. Construction This subchapter shall be liberally construed to effect its purposes under section 4181 of this title, which shall constitute an aid and guide to interpretation. (Added 1993, No. 30, § 15, eff. May 21, 1993.)
§ 4183. Definitions
§ 4183. Definitions As defined in this subchapter: (1) “Association” means the Vermont Health Maintenance Organization Guaranty Association created under this subchapter. (2) “Commissioner” means the Commissioner of Financial Regulation of this State. (3) “Contractual obligation” means any obligation under covered health care plan certificates. (4) “Covered person” means any member or person who is […]
§ 4184. Creation of the Health Maintenance Organization Guaranty Association
§ 4184. Creation of the Health Maintenance Organization Guaranty Association Upon a finding by the Commissioner that the interests of members would be best served by the establishment of a Health Maintenance Organization Guaranty Association, the Commissioner shall order all organizations holding a certificate of authority under chapter 139 of this title to establish a […]
§ 4185. Application of subchapter 1 to the Vermont Health Maintenance Organization Guaranty Association; maximum benefits
§ 4185. Application of subchapter 1 to the Vermont Health Maintenance Organization Guaranty Association; maximum benefits (a) Sections 4157, 4158, 4159, 4160, 4161, 4162, 4163, 4164, 4165, 4168, and 4169 of this title shall govern and apply to the Association established under this subchapter except as otherwise provided in this subchapter. (b) Sections 4166 and […]
§ 4165. Examination of the Association; annual report
§ 4165. Examination of the Association; annual report The Association shall be subject to examination and regulation by the Commissioner. The Board of Directors shall submit to the Commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved by the Commissioner and a report […]
§ 4166. Tax exemptions
§ 4166. Tax exemptions The Association shall be exempt from payment of all fees and all taxes levied by this State or any of its subdivisions, except taxes levied on real property. (Added 1971, No. 170 (Adj. Sess.), § 2, eff. April 27, 1972.)
§ 4167. Tax write-offs of certificates of contribution
§ 4167. Tax write-offs of certificates of contribution (a) Unless a longer period has been allowed by the Commissioner, a member insurer shall at its option have the right to show a certificate of contribution as an asset in the form approved by the Commissioner pursuant to subsection 4159(g) of this title, at percentages of […]
§ 4168. Immunity
§ 4168. Immunity There shall be no liability on the part of and no cause of action of any nature shall arise against any member insurer or its agents or employees, the Association or its agents or employees, members of the Board of Directors, or the Commissioner or his or her representatives for any action […]
§ 4169. Stay of proceedings; reopening default judgments
§ 4169. Stay of proceedings; reopening default judgments All proceedings in which the impaired or insolvent insurer is a party in any court in this State shall be stayed 60 days from the date an order of liquidation, rehabilitation, or conservation is final to permit proper legal action by the Association on any matters germane […]