Commissioner duties - Filing requirements - Audits and examinations

1. The commissioner has the authority to regulate the establishment and conduct of health insurance purchasing cooperatives as set forth in this chapter. 2. The commissioner has the authority to conduct financial and performance audits on health insurance purchasing cooperatives operating in the state. The costs of such audits shall be the responsibility of the purchasing cooperative. 3. Each health insurance purchasing cooperative doing business in the state shall file with the commissioner the following information or documents: a. A business plan for approval by the commissioner. b. Annual reports identifying the number of individuals insured through the cooperative, the names of insurance companies providing coverage to cooperative members and rates charged for insurance policies provided through the cooperative, and any proposed changes in the business plan of the cooperative. 4. a. A health insurance purchasing cooperative may not enter the marketplace until the commissioner has approved the business plan. b. Any material changes to the business plan must be submitted to the commissioner for approval prior to implementation.