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Committee approves SB 121 with amendment exempting certain self-funded public and church plans
Summary
Senate Bill 121, a technical insurance bill adopting NAIC model holding company system provisions and related accreditation items, was amended to restore a "material" threshold and to exempt specified self-funded employee health plans maintained by state and local governmental entities and certain church plans from being defined as health benefit
The Senate Committee on Financial Institutions and Insurance passed Senate Bill 121 as amended, adopting technical changes and adding exemptions for certain self-funded health plans.
Staff told the committee the bill authorizes the commissioner of insurance to adopt provisions related to group capital calculations and liquidity stress testing and incorporates elements of the National Association of Insurance Commissioners (NAIC) model holding company system regulatory act. A department-requested technical amendment…
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