Washington Administrative Code (Last Updated: November 23, 2016) |
Title 284. Insurance Commissioner, Office of |
Chapter 284-54. Long-term care insurance rules. |
Section 284-54-650. Loss ratio experience records.
Latest version.
- Health care service contractors and health maintenance organizations shall maintain records of earned premiums and incurred benefits for each contract year for each contract, rider, endorsement, amendment and similar form which were combined for purposes of premium calculations, including the reserves. Records shall also be maintained of the experience expected in the premium calculations. Notwithstanding the foregoing, with proper justification, the commissioner may accept approximation of contract year experience based on calendar year data.