Ins s 843.403 - Minimum Net Worth
- A health maintenance organization authorized to provide basic health care services shall maintain a minimum net worth of $1.5 million.
- A health maintenance organization authorized to provide limited health care services shall maintain a minimum net worth of $1 million.
- A health maintenance organization authorized to offer only a single health care service plan shall maintain a minimum net worth of $500,000.
- The minimum net worth required by this section may consist only of:
- money of the United States;
- bonds of this state;
- bonds or other evidences of indebtedness of the United States that are guaranteed as to principal and interest by the United States; or
- bonds or other interest-bearing evidences of indebtedness of a county or municipality of this state.
Ins s 843.4031 - Phase-In Period for Minimum Net Worth
- Notwithstanding Section 843.403(a), a health maintenance organization authorized to provide basic health care services that holds a certificate of authority under this chapter issued before September 1, 1999, shall achieve and maintain a minimum net worth of:
- $500,000 not later than December 31, 2000;
- $1 million not later than December 31, 2001; and
- $1.5 million not later than December 31, 2002.
- Notwithstanding Section 843.403(b), a health maintenance organization authorized to provide limited health care services that holds a certificate of authority under this chapter issued before September 1, 1999, shall achieve and maintain a minimum net worth of:
- $300,000 not later than December 31, 2000;
- $600,000 not later than December 31, 2001; and
- $1 million not later than December 31, 2002.
- Notwithstanding Section 843.403(c), a health maintenance organization authorized to offer only a single health care service plan that holds a certificate of authority under this chapter issued before September 1, 1999, shall achieve and maintain a minimum net worth of:
- $150,000 not later than December 31, 2000;
- $300,000 not later than December 31, 2001; and
- $500,000 not later than December 31, 2002.
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