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Committee reports favorably on fund consolidation for insurance exams and HSA safe-harbor bill
Summary
The committee approved rolling a small Department of Insurance service-contract fund into the special examination fund and gave a favorable report to a Senate-version safe-harbor bill for health savings accounts; the department said the service-contract fund brings in about $70,000 per year.
A legislative committee moved two insurance-related housekeeping measures forward and recorded a favorable report on a Senate-version bill addressing health savings account (HSA) safe-harbor provisions.
Ren Norman, general counsel at the insurance department, told the committee that the service contract revolving fund was created in 1997, collects approximately $70,000 a year and supports about one-half of an employee's time in the examinations division.…
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