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Senate committee approves bill easing stop‑loss attachment requirements to expand small‑group self‑funding options
Summary
Senate Bill 239 would permit insurers to offer lower‑cost small‑group products by allowing self‑funding with stop‑loss coverage and by loosening Arkansas' minimum stop‑loss attachment‑point requirements to align with neighboring states; the committee voted to advance the bill.
Senator Rapert introduced Senate Bill 239 to the Senate Insurance & Commerce Committee. He said the bill would allow insurers to offer a lower‑cost option to employers in the small‑group market by permitting insurers to self‑fund products with stop‑loss coverage and by removing overly restrictive stop‑loss minimum attachment‑point requirements that currently make such products uncompetitive in Arkansas.
Rapert said Arkansas currently has the strictest stop‑loss minimum attachment‑point requirements in the Southeast and that SB 239 would align Arkansas rules more closely with Alabama, Georgia, North Carolina, South Carolina, Mississippi, Tennessee, Louisiana and Florida. The sponsor took his introduction as a matter of record; there were no public questions and the committee moved a 'do pass' motion and approved the bill.
The committee reported SB 239 do pass and advanced it out of committee for further consideration.
