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House File 550

Partial Bill History

Bill Text

PAG LIN
  1  1                                        HOUSE FILE 550
  1  2 
  1  3                             AN ACT
  1  4 RELATING TO THE EXEMPTION OF CERTAIN MULTIPLE EMPLOYER WEL-
  1  5    FARE ARRANGEMENTS FROM REGULATION BY THE INSURANCE DIVI-
  1  6    SION AND PROVIDING AN EFFECTIVE DATE.
  1  7 
  1  8 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 
  1  9 
  1 10    Section 1.  Section 507A.4, subsection 10, Code 1997, is
  1 11 amended to read as follows:
  1 12    10.  a.  Transactions involving a multiple employer welfare
  1 13 arrangement, as defined in section 3 of the federal Employee
  1 14 Retirement Income Security Act of 1974, 29 U.S.C. } 1002,
  1 15 paragraph 40, if the multiple employer welfare arrangement
  1 16 meets all of the following conditions:
  1 17    a. (1)  The arrangement is administered by an authorized
  1 18 insurer or an authorized third-party administrator.
  1 19    b. (2)  The arrangement has been in existence and provided
  1 20 health insurance for at least fifteen five years prior to July
  1 21 1, 1994 1997.
  1 22    c. (3)  The arrangement was established by a trade,
  1 23 industry, or professional association of employers that has a
  1 24 constitution or bylaws, and has been organized and maintained
  1 25 in good faith for at least twenty ten continuous years prior
  1 26 to July 1, 1994 1997.
  1 27    (4)  The arrangement registers with and obtains a
  1 28 certificate of registration issued by the commissioner of
  1 29 insurance.
  1 30    (5)  The arrangement is subject to the jurisdiction of the
  1 31 commissioner of insurance, including regulatory oversight and
  1 32 solvency standards as established by rules adopted by the
  1 33 commissioner of insurance pursuant to chapter 17A.
  1 34    b.  A multiple employer welfare arrangement registered with
  1 35 the commissioner of insurance which does not meet the solvency
  2  1 standards established by rule adopted by the commissioner of
  2  2 insurance is subject to chapter 507C.
  2  3    Sec. 2.  1994 Iowa Acts, chapter 1038, section 3, as
  2  4 amended by 1995 Iowa Acts, chapter 33, section 1, and 1996
  2  5 Iowa Acts, chapter 1024, section 1, is amended to read as
  2  6 follows:
  2  7    SEC. 3.  REPEAL.  This Act is repealed effective July 1,
  2  8 1997 1998.
  2  9    Sec. 3.  Section 513A.8, Code 1997, is repealed.
  2 10    Sec. 4.  EFFECTIVE DATE.  This Act, being deemed of
  2 11 immediate importance, takes effect upon enactment.  
  2 12 
  2 13 
  2 14                                                             
  2 15                               RON J. CORBETT
  2 16                               Speaker of the House
  2 17 
  2 18 
  2 19                                                             
  2 20                               MARY E. KRAMER
  2 21                               President of the Senate
  2 22 
  2 23    I hereby certify that this bill originated in the House and
  2 24 is known as House File 550, Seventy-seventh General Assembly.
  2 25 
  2 26 
  2 27                                                             
  2 28                               ELIZABETH ISAACSON
  2 29                               Chief Clerk of the House
  2 30 Approved                , 1997
  2 31 
  2 32 
  2 33                         
  2 34 TERRY E. BRANSTAD
  2 35 Governor
     
Text: HF00549                           Text: HF00551
Text: HF00500 - HF00599                 Text: HF Index
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