(3) at the time a person ceases to meet the eligibility requirements of this section. Section 3860130. (A) An insurer participating in the program shall report claims data to the program in the manner prescribed by the board. The department may specify, by bulletin, the requirements for reporting claims data and other required information to the department. (B) The board shall submit a report to the Governor, the President Pro Tempore of the Senate, and the Speaker of the House of Representatives no later than January 1, 2014, regarding the effectiveness of the program, including any recommendations relating to the successful implementation and administration of the program. Section 3860140. The department may promulgate regulations necessary for implementation of this chapter. Section 3860150. Before termination of the program, insurers participating in the plan shall: (1) offer to continue the South Carolina HealthNet coverage for a maximum of one additional year to allow the participant the opportunity to find alternative coverage; or (2) offer to replace the South Carolina HealthNet policy with a policy underwritten by the insurer that provides coverage similar to or better than the South Carolina HealthNet policy at applicable rates offered by the insurer.” SECTION 2. The General Assembly shall provide initial funding for the program in the amount of ninetyfive thousand dollars appropriated from the insurance premium taxes deposited in the general fund of the State pursuant to Section 38720. SECTION 3. This act takes effect upon approval by the Governor. The program takes effect no earlier than January 1, 2010, but not later than July 1, 2010. This program terminates five years from the date of its first date of operation unless extended by action of the General Assembly. XX
(3) at the time a person ceases to meet the eligibility requirements of this section. Section 3860130. (A) An insurer participating in the program shall report claims data to the program in the manner prescribed by the board. The department may specify, by bulletin, the requirements for reporting claims data and other required information to the department. (B) The board shall submit a report to the Governor, the President Pro Tempore of the Senate, and the Speaker of the House of Representatives no later than January 1, 2014, regarding the effectiveness of the program, including any recommendations relating to the successful implementation and administration of the program. Section 3860140. The department may promulgate regulations necessary for implementation of this chapter. Section 3860150. Before termination of the program, insurers participating in the plan shall: (1) offer to continue the South Carolina HealthNet coverage for a maximum of one additional year to allow the participant the opportunity to find alternative coverage; or (2) offer to replace the South Carolina HealthNet policy with a policy underwritten by the insurer that provides coverage similar to or better than the South Carolina HealthNet policy at applicable rates offered by the insurer.” SECTION 2. The General Assembly shall provide initial funding for the program in the amount of ninetyfive thousand dollars appropriated from the insurance premium taxes deposited in the general fund of the State pursuant to Section 38720. SECTION 3. This act takes effect upon approval by the Governor. The program takes effect no earlier than January 1, 2010, but not later than July 1, 2010. This program terminates five years from the date of its first date of operation unless extended by action of the General Assembly. XX
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