20:06:56:16.  Annual limitation on deductibles for plans in the small group market. For a plan year beginning in calendar year 2014, the annual deductible for a health plan in the small group market may not exceed the following

            (1)  For self-only coverage--$2,000; or

            (2)  For coverage other than self-only--$4,000.

            For a plan year beginning in a calendar year after 2014, the annual deductible for a health plan in the small group market may not exceed the following:

            (1)  For self-only coverage--the annual limitation on deductibles for calendar year 2014 increased by an amount equal to the product of that amount and the premium adjustment percentage; and

            (2)  For other than self-only coverage--twice the annual deductible limit for self-only coverage.

            A health plan's annual deductible may exceed the annual deductible limit if that plan may not reasonably reach the actuarial value of a given level of coverage without exceeding the annual deductible limit.

            Source: 39 SDR 203, effective June 10, 2013.

            General Authority: SDCL 58-17-87, 58-18-79.

            Law Implemented: SDCL 58-17-87, 58-18-79, 58-18-80.