Effective: March 15, 2001
Latest Legislation: House Bill 714 – 123rd General Assembly
(A) A health insuring corporation has the right to a confidential hearing upon receiving any of the following from the superintendent of insurance:
(1) An adjusted RBC report;
(2) Notification that the health insuring corporation’s RBC plan or revised RBC plan is unsatisfactory and a statement that the notification constitutes a regulatory action level event for the health insuring corporation;
(3) Notification that the superintendent has determined that the health insuring corporation has failed to adhere to its RBC plan or revised RBC plan, which failure has a substantial adverse effect on the ability of the health insuring corporation to eliminate the conditions leading to a company action level event in accordance with its RBC plan or revised RBC plan;
(4) A corrective order issued under division (B)(3) of section 1753.34 of the Revised Code.
(B) A health insuring corporation shall notify the superintendent of its request for a hearing within five days after its receipt of any item listed in division (A) of this section. Upon the superintendent’s receipt of the health insuring corporation’s request for a hearing, the superintendent shall set a date for the hearing, which date shall be no less than ten days and no more than thirty days after the superintendent’s receipt of the health insuring corporation’s request.
(C) A health insuring corporation may challenge any determination or action taken by the superintendent under sections 1753.31 to 1753.43 of the Revised Code at the hearing held pursuant to this section.