OK SB563

Amends the Health Insurance High Risk Pool Act by modifying definitions in Section 6532 and rate determination provisions in Section 6542 of 36 O.S. 2001.

Adds "creditable coverage" definition to include the Pre-Existing Condition Insurance Plan (PCIP) program established under the Patient Protection and Affordable Care Act.

Modifies the definition of "federally defined eligible individual" to waive the 18-month creditable coverage requirement for individuals whose most recent coverage was under a PCIP program that has ceased operations.

Establishes premium rate limits capped at 150% of weighted average standard risk rates for the five largest insurers, with annual increases limited to 5%.

Maintains the primary plan's comprehensive coverage with $1,000,000 lifetime limit per individual and provides deductible options ranging from $500 to $7,500.