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Insurance Definition: COMMUNITY RATING LAWS

By Compuquotes Team on March 27th, 2008

COMMUNITY RATING LAWS:

Definition:

  • Enacted in several states on health insurance policies. Insurers are required to accept all applicants for coverage and charge all applicants the same premium for the same coverage regardless of age or health. Premiums are based on the rate determined by the geographic region's health and demographic profile.

Information provided by Insurance Information Institute

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