WIND UP HIGH RISK HEALTH INSURANCE POOL.

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.

Status: Re-ref Com On Appropriations/Base Budget (Senate Action) (May 19 2014)
S 556

Bill Summaries:

  • Bill S 556
    Summary date: May 15 2013 - More information

    Senate committee substitute makes the following changes to the 1st edition.

    Amends GS 58-50-260(d)(9), making a technical change.

    Provides that $1 million is to be appropriated from the General fund to the NC Health Insurance Risk Pool Fund (was to be transferred from the Insurance Regulatory Fund) to be used for the purposes set out in GS 58-50-225 and for the winding up of the NC Health Insurance Risk Pool.

    Amends GS 58-50-225(c), providing that the final surcharge will be paid to the Pool Fund for the 2013-14 state fiscal year in quarterly installments instead of one annual payment.  The installments will be paid to the Pool Fund 60 days after the close of each quarter and will be due on December 1, 2013; March 1, 2014; June 1, 2014; and September 1, 2014. Excess funds following the final dissolution of the Pool  will be transferred to the General Fund.

    Makes a clarifying change.

    Repeals GS 58-3-276, Notice relating to the North Carolina Health Insurance Risk Pool.


  • Summary date: Mar 28 2013 - More information

    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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