Text: HF00324 Text: HF00326 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 HOUSE FILE 325 1 2 1 3 AN ACT 1 4 RELATING TO REGULATION OF MULTIPLE EMPLOYER WELFARE ARRANGEMENTS 1 5 BY THE COMMISSIONER OF INSURANCE, REPEALING THE FUTURE 1 6 REPEAL DATE FOR SUCH REGULATION, AND PROVIDING AN EFFECTIVE 1 7 DATE. 1 8 1 9 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 1 10 1 11 Section 1. Section 507A.4, subsection 10, Code 2001, is 1 12 amended to read as follows: 1 13 10. a. Transactions involving a multiple employer welfare 1 14 arrangement, as defined in section 3 of the federal Employee 1 15 Retirement Income Security Act of 1974, 29 U.S.C. } 1002, 1 16 paragraph 40, if the multiple employer welfare arrangement 1 17 meets all of the following conditions: 1 18 (1) The arrangement is administered by an authorized 1 19 insurer or an authorized third-party administrator. 1 20 (2) The arrangement has been in existence and provided 1 21 health insurance in Iowa for at least five years prior to July 1 22 1, 1997. 1 23 (3) The arrangement was established by a trade, industry, 1 24 or professional association of employers that has a 1 25 constitution or bylaws, and has been organized and maintained 1 26 in good faith for at least ten continuous years prior to July 1 27 1, 1997. 1 28 (4) The arrangement registers with and obtains a 1 29 certificate of registration issued by the commissioner of 1 30 insurance. 1 31 (5) The arrangement is subject to the jurisdiction of the 1 32 commissioner of insurance, including regulatory oversight and 1 33 solvency standards as established by rules adopted by the 1 34 commissioner of insurance pursuant to chapter 17A. 1 35 b. A multiple employer welfare arrangement registered with 2 1 the commissioner of insurancewhichthat does not meet the 2 2 solvency standards established by rule adopted by the 2 3 commissioner of insurance is subject to chapter 507C. 2 4 c. A multiple employer welfare arrangement that meets all 2 5 of the conditions of paragraph "a" shall not be considered any 2 6 of the following: 2 7 (1) An insurance company or association of any kind or 2 8 character under section 432.1. 2 9 (2) A member of the Iowa individual health benefit 2 10 reinsurance association under section 513C.10. 2 11 (3) A member insurer of the Iowa life and health insurance 2 12 guaranty association under section 508C.5, subsection 8. 2 13 d. A multiple employer welfare arrangement registered with 2 14 the commissioner of insurance shall file with the commissioner 2 15 of insurance on or before March 1 of each year a copy of the 2 16 report required to be filed with the United States department 2 17 of labor pursuant to 29 C.F.R. } 2520.101-2. 2 18 e. A multiple employer welfare arrangement registered with 2 19 the commissioner of insurance shall file with the commissioner 2 20 of insurance on or before March 1 of each year an annual 2 21 report containing all of the following information regarding 2 22 the multiple employer welfare arrangement: 2 23 (1) The number of participants. 2 24 (2) The amount of premium collected. 2 25 (3) Those special health and accident coverages under 2 26 chapter 514C provided by the multiple welfare arrangement. 2 27 f. The reports filed by the multiple employer welfare 2 28 arrangements pursuant to paragraph "e" shall be compiled by 2 29 the insurance division and filed annually with the general 2 30 assembly by March 30. The compilation shall include the 2 31 following information: 2 32 (1) A computation of the amount of premium tax that would 2 33 have been paid by the multiple employer welfare arrangements 2 34 if the arrangements had been insurance companies. 2 35 (2) A computation of the amount that would have been 3 1 assessed by the Iowa individual health benefit reinsurance 3 2 association to the multiple employer welfare arrangements if 3 3 the arrangements had been members of the Iowa individual 3 4 health benefit reinsurance association. 3 5 Sec. 2. INTERIM STUDY. The legislative council is 3 6 requested to authorize an interim study committee to review 3 7 the current status of the health insurance market in Iowa with 3 8 regard to multiple employer welfare arrangements presently 3 9 registered with the commissioner of insurance, and whether or 3 10 not additional multiple employer welfare arrangements should 3 11 be permitted to operate in Iowa. The study shall include a 3 12 review of the regulatory oversight of all health insurance 3 13 products sold in Iowa, and report on the conditions of the 3 14 health insurance market in Iowa. The study committee shall be 3 15 composed of representatives of the general assembly, the 3 16 insurance division, the insurance industry, the business 3 17 community, and such other interests as the legislative council 3 18 deems appropriate. Appointments to the committee shall be 3 19 made no later than June 15, 2001. Staffing for the committee 3 20 shall be provided by the legislative service bureau. The 3 21 study committee shall submit a report of findings and 3 22 recommendations, including proposed legislation, if any, to 3 23 the general assembly on or before November 15, 2001. 3 24 Sec. 3. 1994 Iowa Acts, chapter 1038, section 3, as 3 25 amended by 1995 Iowa Acts, chapter 33, section 1; 1996 Iowa 3 26 Acts, chapter 1024, section 1; 1997 Iowa Acts, chapter 67, 3 27 section 2; and 1998 Iowa Acts, chapter 1012, section 1, is 3 28 repealed. 3 29 Sec. 4. Section 507A.4, subsection 10, paragraphs e and f, 3 30 as enacted in this Act, are amended by striking the paragraphs 3 31 effective July 1, 2002. 3 32 Sec. 5. EFFECTIVE DATE. This Act, being deemed of 3 33 immediate importance, takes effect upon enactment. 3 34 3 35 4 1 4 2 BRENT SIEGRIST 4 3 Speaker of the House 4 4 4 5 4 6 4 7 MARY E. KRAMER 4 8 President of the Senate 4 9 4 10 I hereby certify that this bill originated in the House and 4 11 is known as House File 325, Seventy-ninth General Assembly. 4 12 4 13 4 14 4 15 MARGARET THOMSON 4 16 Chief Clerk of the House 4 17 Approved , 2001 4 18 4 19 4 20 4 21 THOMAS J. VILSACK 4 22 Governor
Text: HF00324 Text: HF00326 Text: HF00300 - HF00399 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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