2nd Sub.
S.B.
100
INSURANCE LAW AMENDMENTS
Senate Floor
Amendments
Amendment 2 February 12, 2001 10:25 am
Senator L. Steven Poulton proposes the following amendments:
1. Page 59, Line 1816: After "each" insert "health maintenance"
2. Page 59, Line 1819: After "(a) the" insert "health maintenance"
3. Page 60, Line 1844: After line 1844 insert
"(3)(a)Each limited health plan authorized in this state shall maintain a deposit with the commissioner under Section 31A-2-206 in an amount equal to the minimum capital or permanent surplus plus 50% of the greater of:
(i).5 times minimum required capital; or
(ii)(A)during the first year of operation, 10% of the limited health plan's projected uncovered expenditures for the first year of operation;
(B)during the second year of operation, 12% of the limited health plan's projected uncovered expenditures for the second year of operation;
(C)during the third year of operation, 14% of the limited health plan's projected uncovered expenditures for the third year of operation;
(D)during the fourth year of operation, 18% of the limited health plan's projected expenditures during the fourth year of operation; or
(E)during the fifth year of operation, and during all subsequent years, 20% of the limited health plan's projected uncovered expenditures for the previous 12 months.
(b)Projections of future uncovered expenditures shall be established in a manner that is approved by the commissioner."