§ 38.2-3516 Purpose
The purpose of this article is to authorize the Commission, pursuant to the authority granted in § 38.2-223, to issue rules and regulations to:
1. Establish the minimum standards for filing of policy forms for individual and small group health benefit plans as defined in § 38.2-3438;
2. Establish the minimum standards, terms, and coverages for individual and group accident and sickness policies known as excepted benefits, as defined in § 38.2-3431; and
3. Establish the minimum standards for short-term limited-duration insurance. The Commission shall ensure that policy standards are simple and understandable and are not misleading or unreasonably confusing and that the sale of such policies provides for full disclosure.
History
This law was first created in 1980. The record of its establishment is cataloged in chapter 204 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1980 “Acts” aren’t available online. It has been modified 2 times. Those modifications are cataloged by “The Acts of Assembly,” a state publication, by year and chapter. Those modifications that can be read on the General Assembly’s website will be linked accordingly. Those modifications are as follows: in 1986, chapter 562; in 2022, chapter 531.
1980, c. 204, § 38.1-362.11; 1986, c. 562; 2022, c. 531.