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Tex. Insurance Code § 1683.007

ACTUARIAL SOUNDNESS

Texas · Texas Insurance Code · Status: effective

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Tex. Insurance Code § 1683.007, ACTUARIAL SOUNDNESS, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/683428
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(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).