No. HB 1079
Filed under Insurance.
Small Employer Health Carrier Reinsurance Program; Removes provisions relating to creation of Florida Small Employer Carrier Reinsurance Program.
Plain English Summary
AI-GENERATEDRepeals the entire Florida Small Employer Health Reinsurance Program — the nonprofit entity itself, its 14-member governing board, and the assessment system that funded it by charging small-group health carriers.
That program let small-employer carriers offload high-cost claims once they exceeded $5,000 a year, sharing the excess risk with other insurers through mandatory assessments. Ending it removes that backstop entirely.
A separate reinsurance pool for individual, non-group health policies loses its tie to that board too — it no longer has to operate under the board's supervision to run its own reinsurance account.
Carriers can still elect "reinsuring carrier" status under the statute, but the program that status referred to no longer exists, leaving that election with no reinsurance program behind it.
AIDeletes the law creating the nonprofit reinsurance program along with its entire funding and operating structure for small-group health carriers.
AIThe office director or a designee no longer chairs a 14-member board of carrier, agent, and employer representatives that ran the program and approved its rates.
AIRemoves the rule letting a small-group carrier shift claims above $5,000 a year, plus a share of the next $150,000, onto the state program instead of paying them itself.
AIThe separate reinsurance account for individual health policies is no longer required to operate under the supervision and control of the small-employer program's board.
AIRemoves the reinsurance program from the list of purposes this section declares for regulating small-employer health coverage in Florida.