I. PURPOSE AND SCOPE OF THIS BULLETIN
The purpose of this bulletin is to address a provision of S.C. Code Ann. § 38-71-280, added by 2007 S.C. Act No. 65. Subsection (E) requires that annual adjustments of the maximum benefit for coverage for behavioral therapy shall be made to reflect any change from the previous year in the Consumer Price Index. S.C. Code Ann. § 38-71-280 (E) provides as follows:
“… Coverage for behavioral therapy is subject to a fifty-thousand-dollar maximum benefit per year. Beginning one year after the effective date of this act, this maximum benefit shall be adjusted annually on January 1 of each calendar year to reflect any change from the previous year in the current Consumer Price Index, All Urban Consumers, as published by the United States Department of Labor’s Bureau of Labor Statistics.”
The South Carolina Department of Insurance has reviewed the current Consumer Price Index and determined that the maximum benefit for coverage for behavioral therapy shall be increased to $67,300 for the calendar year beginning January 1, 2023.
II. QUESTIONS
Any questions or concerns about this Bulletin should be submitted in writing to the attention of:
Andrew Dvorine, ASA, MAAA, Life Acuary
Email: advorine@doi.sc.gov
South Carolina Department of Insurance
145 King Street, Suite 228
Charleston, South Carolina 29401