Bill Summary for S 556 (2013-2014)

Summary date: 

Mar 28 2013

Bill Information:

View NCGA Bill Details2013-2014 Session
Senate Bill 556 (Public) Filed Thursday, March 28, 2013
A BILL TO BE ENTITLED AN ACT TO WIND UP THE NORTH CAROLINA HEALTH INSURANCE RISK POOL.
Intro. by Hise.

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Bill summary

Enacts new GS 58-50-260 sunsetting the NC Health Insurance Risk Pool (Pool) on January 1, 2014. Specifies timeframe for submitting invoices for services provided under the Pool, as well as for appeals and grievances. Requires the commission to submit a plan, by September 1, 2013, for dissolution of the Pool. Specifies items to be addressed in the plan. The plan for the dissolution of the pool becomes effective upon written approval by the Commissioner of Insurance (Commissioner). Sets deadline for actions by or against the Pool. Requires that funds in excess of the reserve amount that remain in the NC Health Insurance Risk Pool Fund (Fund) at the time of dissolution are to be paid into the General Fund as are any reserve funds remaining in the Fund after the resolution of timely filed actions.

Transfers $1 million from the Insurance Regulatory Fund to the Fund to be used for purposes allowed under GS 58-50-225 (North Carolina Health Insurance Risk Pool Fund) or for winding up the Pool.

Effective January 1, 2015, repeals GS 58-50-225(c) (which required the Teachers' and State Employees' Comprehensive Major Medical Plan and any successor Plan to pay an annual surcharge to the Fund in the amount of $1.50 per member per year based on enrollment of active employee Plan members and their dependents covered under the Plan).

Effective January 1, 2017, repeals the Plan (Part 6 of Article 50 of GS Chapter 58).

 

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