How frequently must a specialty health insuring corporation provide current company information to its insured?

A specialty health insuring corporation is required to provide current company information to its insured on a biennial basis. This means that every two years, the corporation must ensure that policyholders receive updated information regarding their coverage, the company’s status, and any relevant changes that might affect the insured. This requirement is aimed at maintaining transparency and ensuring that insured individuals remain informed about their health insurance policies, which is crucial for understanding their benefits, limitations, and rights under the plan.

Providing information on a biennial schedule strikes an effective balance, allowing enough time for changes to occur while still keeping policyholders informed without overwhelming them with too frequent updates. This approach helps to foster trust and ensures that consumers are equipped with the necessary knowledge to make informed healthcare decisions.