H.B.
342
INSURANCE CODE AMENDMENTS
house floor
Amendments
Amendment 4 February 12, 2008 10:09 am
Representative James A. Dunnigan
proposes the following amendments:
1. Page
12, Lines 351 through 354
:
351
[(c)] (b) "Eligible employee" does not include
{
[
}
, unless eligible under Subsection
352
(50)(b): (i)
{
]
}
an individual who works on a temporary or substitute basis for a small
employer
{
[
}
;
{
]
}
{
.
}
353
{
[
}
(ii) an employer's spouse; or
{
]
}
354
{
[
}
(iii) a dependent of an employer.
{
]
}
2. Page
47, Line 1449 through Page 48, Line 1454
:
1449
{
(2) A captive insurance company may not write a reimbursement policy for a service
1450
contract provider that is subject to this chapter.
}
1451
{
[
}
(2)
{
]
}
{
(3)
}
(a) A service contract may not be issued, sold, or offered for sale unless
[a true
1452
and correct copy of the service contract and the provider's reimbursement insurance policy have
1453
been filed with the commissioner. A copy of a contract and policy must be filed] the service
1454
contract provider completes the registration process described in this Subsection
{
(3)
}
(2)
.
3. Page
48, Lines 1462 through 1463
:
1462
(c) A service provider shall submit the information described in Subsection
{
(3)
}
(2)
(b) no
1463
less than 30 days [prior to the issuance, sale offering for sale, or use of the] before the day on
4. Page
48, Lines 1473 through 1481
:
1473
{
[
}
(3)
{
]
}
{
(4)
}
(a) Premiums collected on a service [contracts] contract are not
subject to
1474
premium taxes.
1475
(b) Premiums collected by [issuers] an issuer of a reimbursement insurance [policies]
1476
policy are subject to premium taxes.
1477
{
[
}
(4)
{
]
}
{
(5)
}
A person marketing, selling, or offering to sell a service [contracts]
contract
1478
for a service contract [providers] provider that complies with this chapter is exempt from the
1479
licensing requirements of this title.
1480
[(5) Service]
{
(6)
}
(5)
A service contract [providers] provider complying with this chapter
1481
[are] is not required to comply with:
5. Page
52, Lines 1582 through 1584
House Committee Amendments
2-4-2008
:
1582
(4) H. [A] Except for a bank, savings and loan association, industrial bank, or credit
1582a
union, a .H service contract provider
, unless licensed by the department,
may not sell, or be the
obligated party for:
1583
(a) a guaranteed asset protection waiver; H. [or] .H
1584
(b) a debt cancellation agreement H. [.] ; or
6. Page
62, Lines 1891 through 1913
:
1891
(2) (a)
{
For
}
Except as provided in Subsection (4), for
the period beginning on the date of
death and ending the day before the day
1892
described in Subsection (3)(b), interest under Subsection (1) shall accrue at a rate no less than:
1893
(i) the rate applicable to policy funds left on deposit; or
1894
(ii) if there is no rate described in Subsection (2)(a)(i), at the Two Year Treasury
1895
Constant Maturity Rate as published by the Federal Reserve.
1896
(b) The rate described in Subsection (2)(a) is the rate in effect on the day on which the
1897
death occurs.
1898
(c) Interest is payable until the day on which the claim is paid.
1899
(3) (a) Unless the claim is paid
and except as provided in Subsection (4)
, beginning on the day
described in Subsection (3)(b)
1900
and ending the day on which the claim is paid, interest shall accrue at the rate in Subsection (2)
1901
plus additional interest at the rate of 10% annually.
1902
(b) Interest accrues under Subsection (3)(a) beginning with the day that is 31 days from
1903
the latest of:
1904
(i) the day on which the insurer receives proof of death;
1905
(ii) the day on which the insurer receives sufficient information to determine:
1906
(A) liability;
1907
(B) the extent of the liability; and
1908
(C) the appropriate payee legally entitled to the proceeds; and
1909
(iii) the day on which:
1910
(A) legal impediments to payment of proceeds that depend on the action of parties
1911
other than the insurer are resolved; and
1912
(B) the insurer receives sufficient evidence of the resolution of the legal impediments
1913
described in Subsection (3)(b)(iii)(A).
(4) A court of competent jurisdiction may require payment of interest from the date of death to the day
on which a claim is paid at a rate equal to the sum of:
(a) the rate specified in Subsection (2); and
(b) the legal rate identified in Subsection 15-1-1(2).
7. Page
65, Line 2004 through Page 66, Line 2021
:
2004
(e) in relation to cost-sharing features for prescription drugs:
2005
(i) (A) a deductible
{
of
}
not
{
less than $500
}
to exceed $1,000
per person; and
2006
(B) for family coverage, not to exceed three times the per person deductible provided
2007
in Subsection (4)(e)(i)(A); and
2008
(ii) (A) a copayment of not less than:
2009
(I) the lesser of the cost of the prescription drug or $15 for the lowest level of cost for
2010
prescription drugs;
2011
(II) the lesser of the cost of the prescription drug or
{
$30
}
$25
for the second level of cost for
2012
prescription drugs; and
2013
(III) the lesser of the cost of the prescription drug or
{
$60
}
$35
for the highest level of cost
2014
for prescription drugs; or
2015
(B) coinsurance of not less than:
2016
(I) the lesser of the cost of the prescription drug or 25% for the lowest level of cost for
2017
prescription drugs;
2018
(II) the lesser of the cost of the prescription drug or 40% for the second level of cost for
2019
prescription drugs; and
2020
(III) the lesser of the cost of the prescription drug or 60% for the highest level of cost
2021
for prescription drugs.
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