(a) There is hereby established a nonprofit entity to be known as the Massachusetts Nongroup Health Reinsurance Plan. Any carrier issuing or renewing a guaranteed issue health plan shall be a member of the plan. [unchanged text not shown] By no later than July 1, 2006, the governing committee shall establish a proposal to phase-out the operations of the plan and submit a copy of said proposal to the commissioner for approval. The proposal shall include a method for closing the plan by June 30, 2007. The governing committee shall execute the phase-out of the plan.
Directs governing committee of non-group health reinsurance plan to propose a phase-out plan.
M.G.L. Chapter 176M, section 6; last paragraph added by section 95 of Chapter 58 of the Acts of 2006