Nev. Admin. Code § 679B.551

Current through June 11, 2024

Section 679B.551 - Payment of less than fair market value for services or products: Failure to comply with filing requirements

In addition to any other disciplinary action which may be taken by the Commissioner, the Commissioner will fine a health insurer which pays less than fair market value for services or products in a transaction which is subject to the provisions of paragraph (i) of subsection 2 of NRS 680A.320 and fails to or incompletely files the:

1. Certification that the reduced payment has been reflected in the form of reduced premiums; and

2. Documentation supporting the certification,

which are required by NAC 679B.541, $100 per day until the filing is made or completed, but not to exceed a total of $2,000.

Nev. Admin. Code § 679B.551

Added to NAC by Comm'r of Insurance, eff. 1-20-88; A 10-29-92

NRS 679B.130, 680A.320