Exams / Wyoming Accident and Health Insurance License / Wyo. Stat. §26-18-205
Wyo. Stat. §26-18-205 — what it says, and how the exam tests it
This section is cited by 4 of our practice questions and is tested on 2 exams including the Wyoming Accident and Health Insurance License.
The text
26-18-205. Multi-state consortium; reciprocity requirements. (a) The commissioner shall explore with other insurance commissioners the creation of a consortium of like-minded states that could establish rules of reciprocity for the approval of comprehensive individual medical and surgical health insurance policies among the participating states. (b) The commissioner shall solicit the thoughts and report a consensus, where one exists, of the other commissioners interested in creating a consortium of like minded states in establishing rules of reciprocity for the approval of health insurance policies. Issues to be considered include but are not limited to: (i) Whether the consortium should involve only high deductible individual policies, all comprehensive individual medical and surgical health insurance policies, both of these types of individual policies plus small group policies or all health insurance policies; (ii) Whether insurers should be free to price differently among consortium states dependent on local health care costs and market conditions; (iii) Whether a policy approved in a primary state shall be automatically available in all secondary states of the consortium, or available at the option of the insurer; (iv) In areas where an associated preferred provider network is absent, whether sale of policies should be prohibited, disclaimers should be required or the sale of policies should be regulated only by market forces and conditions; (v) The adequacy for a multi-state consortium of existing state laws on insurer financial solvency, guarantee funds and imposition and collection of premium taxes; (vi) The authority of a secondary state to deal with customer complaints concerning a multi-state policy; (vii) Whether and when an insurer selling a policy approved in a primary state must notify the commissioner of a secondary state that the insurer is marketing the policy in the secondary state; (viii) Whether secondary state insurers, in order to sell competitive policies, may match any less restrictive primary state rules governing policies sold in the secondary state, and whether disclaimers to warn potential customers shall be required on policies and promotional materials in the secondary state; (ix) Whether any of the issues identified in this subsection require the enactment of uniform laws in the consortium states; (x) Estimated savings to…
Public record. Read the full, current section at the official source: wyoleg.gov
How it comes up on the exam
Practice questions written from this section — answers and explanations are in the drill.
- Under Wyo. Stat. §26-18-205, an issuer selling a policy in a secondary state under a multi-state consortium must be licensed and approved to be doing business in which states?
drill Wyoming Statutes and Rules Pertinent to Accident and Health Insurance Only → - Under Wyo. Stat. §26-18-205, in a multi-state consortium an issuer that has designated a primary state for a particular policy may change that designation under which condition?
drill Wyoming Statutes and Rules Pertinent to Accident and Health Insurance Only → - Under Wyo. Stat. §26-18-205, when the commissioner makes an initial proposal for rules of reciprocity in a multi-state consortium, an issuer may designate how many states as its primary state with respect to a particular policy?
drill Wyoming Statutes and Rules Pertinent to Accident and Health Insurance Only →