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2018 SESSION
18103661DBe it enacted by the General Assembly of Virginia:
1. That § 38.2-316.1 of the Code of Virginia is amended and reenacted as follows:
§ 38.2-316.1. Premium rates.
A. The
Commission shall review and approve accident and sickness insurance premium
rates applicable to (i) health benefit plans issued in this the Commonwealth in the
individual and small group markets, as those terms are defined in § 38.2-3431,
and (ii) health benefit plans providing health insurance coverage, as defined
in § 38.2-3431, in the individual market to residents of the Commonwealth through
a group trust, association, purchasing cooperative, or other group that is not
an employer plan. The Commission shall promulgate regulations to establish
standards applicable to such review and approval.
B. Premium rate filings for a health benefit plan issued in the Commonwealth in the individual and small group markets shall include a description of agent commissions and any limitations or exceptions as they relate to the payment of such commissions.