10-U.S.C.-12526

§12526 – Premiums

Pathway

Title 10 > Subtitle E > Part II > Chapter 1214 > Section 12526

Details

• Reference: Section 12526
• Legend: §12526 – Premiums
• USCode Year: 2013

Provision Content

(a) Establishment of Rates.—(1) The Secretary, in consultation with the Board of Actuaries, shall prescribe the premium rates for insurance under the insurance program.

(2) The Secretary shall prescribe a fixed premium rate for each $1,000 of monthly insurance benefit. The premium amount shall be equal to the share of the cost attributable to insuring the member and shall be the same for all members of the Ready Reserve who are insured under the insurance program for the same benefit amount. The Secretary shall prescribe the rate on the basis of the best available estimate of risk and financial exposure, levels of subscription by members, and other relevant factors.

(b) Level Premiums.—The premium rate prescribed for the first year of insurance coverage of an insured member shall be continued without change for subsequent years of insurance coverage, except that the Secretary, after consultation with the Board of Actuaries, may adjust the premium rate in order to fund inflation-adjusted benefit increases on an actuarially sound basis.

(Added Pub. L. 104–106, div. A, title V, §512(a)(1), Feb. 10, 1996, 110 Stat. 301.)

U.S. Encyclopedia of Law Coverage

10-U.S.C.-12322 in the Legal Encyclopedia: Army Reserve

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7-U.S.C.-1512 in the Legal Encyclopedia: Insurance

In this entry about 7-U.S.C.-1512, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.

10-U.S.C.-12321 in the Legal Encyclopedia: Army Reserve Personnel

In this entry about 10-U.S.C.-12321, find legal reference material, bibliographies and premiere content related to army reserve personnel in the American Encyclopedia of Law, presenting a comprehensive view of the United States army reserve personnel-specific issues, written by authorities in the field.

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