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Committee OKs bill to give reinsurance board flexibility on attachment point and coinsurance
Summary
The Industry, Business and Labor Committee voted to pass Senate Bill 2,091, which lets the Reinsurance Association of North Dakota annually set the attachment point (between $100,000 and $1,000,000) and adjust the coinsurance percentage (up to the existing 75%). An emergency clause would let changes take effect for 2026 rate-setting if adopted.
The Industry, Business and Labor Committee on Thursday approved Senate Bill 2,091, a measure that gives the Reinsurance Association of North Dakota (RAND) authority to annually adjust the attachment point for individual-market catastrophic claims and to change the coinsurance percentage used for reimbursements.
RAND was created under a Section 1332 waiver of the Affordable Care Act and has operated for five years to reinsure very large individual-market claims. Under current law, RAND reimburses 75% of claim amounts above a $100,000 attachment point and up to a $1,000,000 stop-loss level; amounts above $1,000,000 are covered by federal programs under the Affordable Care Act. The bill would…
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