Committee approves structure for nonprofit insurance acquisitions with amendment preventing provider ownership
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Summary
The committee reported HB 391 favorably as amended; the bill allows a nonprofit insurance company to acquire another insurer but the committee adopted an amendment prohibiting acquisition of a health provider so insurers remain insurers, not providers.
The House Insurance Committee gave HB 391 a favorable report as amended, approving a corporate structure that would allow a nonprofit insurance company to acquire another insurer while adopting an amendment that bars such entities from acquiring health‑care providers.
Speaker 3, the proponent, described the bill as creating "a corporate structure that allows a nonprofit insurance company to acquire another insurance company." The committee adopted an amendment, explained by the sponsor of the amendment, that explicitly prohibits an insurer from acquiring a health provider. "They're not gonna be in the providing business. Just insurance," the speaker said while describing the amendment's intent.
Blackshear moved the amendment and Dasher seconded; the amendment was adopted by voice vote. After the amendment's adoption the committee voted to report the bill favorably as amended (motion recorded as Seabrook with Dasher second). The transcript records voice votes; numerical roll‑call tallies were not recorded.
The amendment narrows the bill's scope by preventing vertical integration into direct health‑care provision. The bill text as amended does not specify implementation timelines, regulatory oversight mechanisms, or fiscal effects; those details would be addressed in later review or by implementing agencies if the bill advances.
