Operation.
(a)The board shall propose to the commissioner the payment…#
(a) The board shall propose to the commissioner the payment parameters for the next benefit year by January 15 of the year before the applicable benefit year. The commissioner shall approve or reject the payment parameters no later than 14 days following the board's proposal. If the commissioner fails to approve or reject the payment parameters within 14 days following the board's proposal, the proposed payment parameters are final and effective.
(b)If the amount in the premium security plan account in…#
(b) If the amount in the premium security plan account in section 62E.25, subdivision 1, is not anticipated to be adequate to fully fund the approved payment parameters as of July 1 of the year before the applicable benefit year, the board, in consultation with the commissioner and the commissioner of management and budget, shall propose payment parameters within the available appropriations. The commissioner must permit an eligible health carrier to revise an applicable rate filing based on the final payment parameters for the next benefit year.
new text begin (c) Notwithstanding paragraph (a), the payment parameters for benefit year 2020 are: new text end
new text begin (1) an attachment point of $50,000; new text end
new text begin (2) a coinsurance rate of 80 percent; and new text end
new text begin (3) a reinsurance cap of $250,000. new text end