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Committee approves bill expanding guarantee association coverage to HMOs, allowing providers to file claims
Summary
SB292 would add HMOs to the Arkansas Life and Health Insurance Guarantee Association’s coverage, let contracted providers file claims with the fund, exclude third‑party buyers of structured settlements, and create a split assessment formula for long‑term‑care insolvencies. The committee approved the amended bill.
Senate Bill 292, presented with an amendment adopted in committee, would change the Arkansas Life and Health Insurance Guarantee Association statute to broaden protections in the event of insurer insolvency.
Lee Douglas, executive director of the Arkansas Life and Health Insurance Guarantee Association, told the Insurance & Commerce Committee the amendments add health maintenance organizations (HMOs) to the association’s coverage so that enrollees of an…
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