Current through Register Vol. 54, No. 44, November 2, 2024
Section 242.7a - Allowable time periods for application to fund for surcharge credits as a result of policy cancellations-statement of policy(a) For all policies issued or renewed in 2001, the Fund should be notified of any cancellation of a health care provider's basic coverage insurance policy, or self-insured arrangement, and should receive any corresponding application for credit, no later than 1 year from the date of the cancellation. For example, if a policy or coverage period on a particular health care provider runs from January 1, 2001, to December 31, 2001, and there is a cancellation of the policy effective September 1, 2001, notification of the cancellation and any corresponding application for credit shall be reported to the Fund by September 1, 2002, if not sooner. A basic coverage insurance carrier or self-insured health care provider will have at least 60 days to notify the Fund of a cancellation and provide the Fund with the corresponding application for credit.(b) For policies issued or renewed in 2002, and every year thereafter, the Fund should be notified of any cancellation of a provider's basic coverage insurance policy, or self-insured arrangement, and should receive any corresponding application for credit, within 60 days from the date of the cancellation.(c) On a going forward basis, the Fund will not accept applications for surcharge credits for policies issued or renewed before January 1, 2001.The provisions of this §242.7a adopted December 14, 2001, effective 12/15/2001, 31 Pa.B. 6825.