HB 1277 CS (2006) -  Risk-Based Capital Requirements for Health Maintenance Organizations

General Bill by Hasner
Risk-Based Capital Requirements for Health Maintenance Organizations: Requires a health maintenance organization to file reports of its risk-based capital levels, beginning on a specified date; prohibits specified uses of such reports; authorizes the Office of Insurance Regulation to use specified documents for monitoring and corrective action purposes; provides requirements for determining risk-based capital; authorizes the office to adjust or revise risk-based capital reports; requires notice of any adjustments or revisions; provides for challenges to any adjustments or revisions; requires health maintenance organizations to file copies of risk-based capital plans with insurance departments of other states under specified circumstances; provides criteria, requirements, and procedures for company action level events, regulatory action level events, authorized control level events, and mandatory control level events relating to levels of risk-based capital; provides duties and responsibilities of the office relating to such events; requires a risk-based capital plan for specified purposes; specifies plan requirements; authorizes the office to take corrective actions; authorizes the office to retain professional assistance in undertaking specified activities relating to a health maintenance organization's levels of risk-based capital; authorizes the office to place a health maintenance organization under regulatory control; provides for a right to a hearing before the office to challenge specified actions by the office; provides hearing requirements and procedures; specifies absence of liability of and prohibits bringing causes of action against the Financial Services Commission, the Department of Financial Services, the office, and certain related personnel for specified activities; provides notification requirements for the office; provides construction; limits application to health maintenance organizations of a limited size; authorizes the commission to adopt rules; revises provisions authorizing health maintenance organizations to include point-of-service riders for point-of service benefits under health maintenance contracts to include preferred provider policies for preferred provider benefits through preferred provider networks; revises maximum premium limitations; provides reporting requirements; provides additional premium requirements and limitations relating to preferred provider policies; requires health maintenance organizations to file a risk-based capital report with the office for informational purposes.
Effective Date: January 1, 2007.
Last Event: Died in Health Care Regulation Committee on Friday, May 5, 2006 11:59 PM

Referred Committees and Committee Actions

House Referrals

Related Bills

Bill # Subject Relationship
Bill #: HB 1279 Subject: Public Records and Public Meetings Exemptions Relationship: Linked
Bill #: SB 2294 Subject: HMOs/Risk-based Capital Requirements Relationship: Similar
Bill #: SB 2306 Subject: HMOs/Risk-based Capital/Pub. Rec. Relationship: Compare

Bill Text

Staff Analysis

Chamber Committee
Chamber: House Committee: Insurance Committee 4/3/2006 9:56:34 AM
Chamber: House Committee: Insurance Committee 3/29/2006 5:17:42 PM

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Health Care Regulation Committee Time: 05/05/2006 - 11:59 PM Member: Committee: Health Care Regulation Committee Version:
Event: H Now in Health Care Regulation Committee Time: 04/03/2006 - 4:16 PM Member: Committee: Health Care Regulation Committee Version: c1
Event: H Remaining referral: Commerce Council Time: 04/03/2006 - 4:16 PM Member: Committee: Commerce Council Version: c1
Event: H Remaining referral: State Administration Appropriations Committee Time: 04/03/2006 - 4:16 PM Member: Committee: State Administration Appropriations Committee Version: c1
Event: H Pending review of CS under Rule 6.3 Time: 04/03/2006 - 10:03 AM Member: Committee: Version: c1
Event: H Reported out of Insurance Committee Time: 04/03/2006 - 9:58 AM Member: Committee: Insurance Committee Version: __
Event: H Favorable with CS by Insurance Committee Time: 03/30/2006 - 12:00 PM Member: Committee: Insurance Committee Version: __
Event: H Added to Insurance Committee agenda Time: 03/28/2006 - 4:25 PM Member: Committee: Insurance Committee Version: __
Event: H Now in Insurance Committee Time: 03/14/2006 - 12:40 PM Member: Committee: Insurance Committee Version: __
Event: H Referred to Commerce Council Time: 03/14/2006 - 12:40 PM Member: Committee: Commerce Council Version: __
Event: H Referred to State Administration Appropriations Committee Time: 03/14/2006 - 12:40 PM Member: Committee: State Administration Appropriations Committee Version: __
Event: H Referred to Health Care Regulation Committee Time: 03/14/2006 - 12:40 PM Member: Committee: Health Care Regulation Committee Version: __
Event: H Referred to Insurance Committee Time: 03/14/2006 - 12:40 PM Member: Committee: Insurance Committee Version: __
Event: H 1st Reading Time: 03/07/2006 - 11:59 PM Member: Committee: Version: __
Event: H Filed Time: 02/23/2006 - 3:50 PM Member: Hasner Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
641.224
641.224
641.31 HB 59, HB 805, HB 1013 CS, HB 1353, HB 7067
641.31 HB 59, HB 805, HB 1013 CS, HB 1353, HB 7067