Text: HF00549 Text: HF00551 Text: HF00500 - HF00599 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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 17a.(1) The arrangement is administered by an authorized 1 18 insurer or an authorized third-party administrator. 1 19b.(2) The arrangement has been in existence and provided 1 20 health insurance for at leastfifteenfive years prior to July 1 21 1,19941997. 1 22c.(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 leasttwentyten continuous years prior 1 26 to July 1,19941997. 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 This Act is repealed effective July 1, 2 819971998. 2 9 Sec. 3. Section 513A.8, Code 1997, is repealed. 2 10 Sec. 4.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 Bills and Amendments: General Index Bill History: General Index
© 1997 Cornell College and League of Women Voters of Iowa
Comments about this site or page? webmaster@legis.iowa.gov. Please remember that the person listed above does not vote on bills. Direct all comments concerning legislation to State Legislators.
Last update: Tue Apr 29 03:41:35 CDT 1997
URL: /DOCS/GA/77GA/Legislation/HF/00500/HF00550/970415.html
jhf