{"data":{"id":"us-ut/utah-code-31a-8-211","jurisdiction":"us-ut","citation":"Utah Code § 31A-8-211","heading":"Deposit.","body":"(1) Except as provided in Subsection (2), each health maintenance organization authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the sum of:\n(a) $100,000; and\n(b) 50% of the greater of:\n(i) $900,000;\n(ii) 2% of the annual premium revenues as reported on the most recent annual financial statement filed with the commissioner; or\n(iii) an amount equal to the sum of three months uncovered health care expenditures as reported on the most recent financial statement filed with the commissioner.\n(2)\n(a) The commissioner may exempt a health maintenance organization from the deposit requirement of Subsection (1) if:\n(i) the commissioner determines that the enrollees' interests are adequately protected;\n(ii) the health maintenance organization has been continuously authorized to do business in this state for at least five years; and\n(iii) the health maintenance organization has $5,000,000 surplus in excess of the health maintenance organization's company action level RBC as defined in Subsection 31A-17-601(8)(b).\n(b) The commissioner may rescind an exemption given under Subsection (2)(a).\n(3)\n(a) Subject to Subsection (3)(c), each limited health plan authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the minimum capital or permanent surplus plus 50% of the greater of:\n(i) .5 times minimum required capital or minimum permanent surplus; or\n(ii)\n(A) during the first year of operation, 10% of the limited health plan's projected uncovered expenditures for the first year of operation;\n(B) during the second year of operation, 12% of the limited health plan's projected uncovered expenditures for the second year of operation;\n(C) during the third year of operation, 14% of the limited health plan's projected uncovered expenditures for the third year of operation;\n(D) during the fourth year of operation, 18% of the limited health plan's projected uncovered expenditures during the fourth year of operation; or\n(E) during the fifth year of operation, and during all subsequent years, 20% of the limited health plan's projected uncovered expenditures for the previous 12 months.\n(b) Projections of future uncovered expenditures shall be established in a manner that is approved by the commissioner.\n(c) This Subsection (3) does not apply to an ambulance membership organization.\n(4) A deposit required by this section may be counted toward the minimum capital or minimum permanent surplus required under Section 31A-8-209.","path":["Title 31A Insurance Code","Chapter 31A-8 Health Maintenance Organizations and Limited Health Plans","Part 31A-8-2 Domestic Organizations"],"source_url":"https://le.utah.gov/xcode/Title31A/Chapter8/31A-8-S211.html","current_through":"2026 General Session","vintage":"","retrieved_at":"2026-09-03T11:34:33Z","sha256":"5f426b72523806b85bc0a9ad8ba9736bf3947374f99ae53f38260387ead2cf85","source_id":"us-ut","stale":false,"prev":"us-ut/utah-code-31a-8-209","next":"us-ut/utah-code-31a-8-213"},"notice":"GroundRules: Original legal text. Not legal advice."}