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• The ability of a health insurance plan to meet all of its financial obligations. State insurance regulators carefully monitor the solvency of all health insurance plans and require corrective action if a plan's financial situation becomes hazardous. In extreme circumstances, a state may seize control of a plan that is in danger of insolvency. Minnesota Statutes, Chapter 60B provide this authority in Minnesota.

  Minnesota Department of Commerce, Insurance - Cite This Source - This Definition
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  Cite Definition for Solvency

  American Psychological Association (APA)

  Solvency. (n.d.). Glossary of Health Insurance Terms. Retrieved January 28, 2023, from website: http://www.expertglossary.com/definition/solvency.

  Chicago Manual of Style (CMS)

  Solvency. mn.gov. Glossary of Health Insurance Terms. Minnesota Department of Commerce, Insurance. http://www.expertglossary.com/definition/solvency (accessed: January 28, 2023).

  Modern Language Association (MLA)

  "Solvency." Glossary of Health Insurance Terms. Minnesota Department of Commerce, Insurance. 28 January. 2023 http://www.expertglossary.com/definition/solvency.

• Browse Related Terms: Appeal, Attest/Attestation, Carriers, Certificate of Coverage, Certificate of Creditable Coverage, Exclusions and/or Limitations, Independent Medical Review (IMR), Insurance Company, Medical Underwriting, policy, Reinsurance, Solvency, Summary of Benefits and Coverage, Summary of Benefits and Coverage (SBC)