No. SB 1354
Filed under Insurance.
Small Employer Health Insurance; Deleting and revising definitions; deleting provisions relating to the creation of the Florida Small Employer Health Reinsurance Program, etc.
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 is still required to operate under "the board of the small employer health reinsurance program" — the very board this bill abolishes elsewhere in its own text.
Only the cross-reference to the repealed subsection is removed here, not the duty itself, leaving the individual pool answering to a board this bill no longer creates.
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.
AIStrips only the citation to the repealed subsection, so s. 627.6475 still requires the individual reinsurance program to operate under the supervision and control of a board this same bill abolishes.
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.