Insurance Code § 1683.007

Sec. 1683.007. ACTUARIAL SOUNDNESS. (a) A postsecondary educational institution that offers higher education health benefits under this chapter shall administer the benefits in a manner that is actuarially sound. (b) The postsecondary educational institution shall ensure the higher education health benefits offered by the postsecondary educational institution are actuarially sound by: (1) obtaining an actuarial opinion from an actuary who is a fellow of the Society of Actuaries or a member of the American Academy of Actuaries that recommends the amount of cash reserves and the level of specific and aggregate stop-loss insurance the postsecondary educational institution should maintain for purposes of administering the benefits; and (2) maintaining the levels of cash reserves and stop-loss insurance recommended by the actuarial opinion obtained under Subdivision (1). Added by Acts 2025, 89th Leg., R.S., Ch. 16 (S.B. 1409), Sec. 2, eff. May 13, 2025.