Premium rates for individual health benefit plans shall produce a minimum lifetime loss ratio of not less than seventy-five percent. The director may promulgate rules pursuant to chapter 1-26 which modify the minimum loss ratio required based on the specific design of the product or other objective and pertinent criteria.
S.D. Codified Laws § 58-40-33
Minimum loss ratio for small employer health benefit plans
Known as the Hospital Service Plan Law
The act spans §§ 58–58 (50 sections).
Source: SL 1994, ch 381, § 1.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.