Rhode Island HB 7606 requires discount medical plan organizations to register and post a minimum $100,000
surety bond. The new law authorizes the Health Insurance Commissioner to use the bond at his or her discretion to protect the financial interest of the organization’s members, including refunds to consumers if the organization’s registration was revoked. An insurance company licensed to do business in the State must issue the bond. Other forms of security also would be accepted in lieu of the bond.