Okla. Stat. tit. 36, § 36-6530.1: Oklahoma Individual Health Insurance Market

Stabilization Act – Legislative intent.

This act shall be known and may be cited as the "Oklahoma

Individual Health Insurance Market Stabilization Act". It is the

intent of the Legislature to provide payments to health insurance

plans with respect to claims for eligible individuals for the

purpose of lowering premiums for health insurance coverage offered

in the individual market. Market stabilization activities shall

include establishment of a high-risk pool, reinsurance, hybrid

programs or any combination thereof. It is the further intent of

the Legislature to bestow upon the Oklahoma Insurance Commissioner

the authority to appoint a Board of Directors which shall create,

implement, oversee and monitor the high-risk pool, reinsurance or

hybrid programs under provisions of this act. The Board of

Directors and the Oklahoma Secretary of Health and Human Services

are authorized to apply for, accept and receive federal funds to

implement and sustain market stabilization programs. Preliminary

planning and analysis shall continue under the direction of the

Oklahoma Insurance Commissioner. The onset of market stabilization

implementation shall be contingent upon Oklahoma's approval for and

receipt of federal funds to implement and sustain market

stabilization programs.