The bill amends section 26.1-36.7-08 of the North Dakota Century Code, which pertains to the requirements for the reinsurance association of North Dakota claims. It establishes that for claims incurred per plan year that total at least one hundred thousand dollars and not more than one million dollars, a member insurer must be reinsured by the association for an amount not exceeding seventy-five percent of the member insurer's responsibility for those claims. Additionally, the bill mandates that the board will determine the attachment points and coinsurance percentage for association claims for each plan year by April first of the preceding year.

The bill also removes the term "individual's nongrandfathered" from the language regarding health benefit plans, simplifying the criteria for reinsurance. This legislative change is declared an emergency measure, indicating its immediate importance for implementation.

Statutes affected:
INTRODUCED: 26.1-36.7-08
Enrollment: 26.1-36.7-08
PREFILED: 26.1-36.7-08