Insurance and Real Estate Committee

JOINT FAVORABLE REPORT

Bill No.:

HB-7262

Title:

AN ACT REVISING VARIOUS INSURANCE STATUTES.

Vote Date:

3/15/2007

Vote Action:

Joint Favorable Substitute

PH Date:

3/8/2007

File No.:

SPONSORS OF BILL:

The Insurance and Real Estate Committee

REASONS FOR BILL:

This legislation intends to revise the insurance statutes in the following ways: 1) to revise the statutory definition of “health care” as is relates to health care services provided through health care centers. 2) to revise the definition of “health care center” to reflect current models. 3) to provide for electronic-only filing of annual and quarterly financial statements as well as annual financial audits. 4) to amend purposes and activities of health centers which are no longer required as a result of amendments to sections 38a-175 and 38a-176 of the general statutes. 5) to repeal section 38a-177 of the general statutes. 6) to provide authority to adopt regulations for viaticals for other than terminally ill persons.

Proposed substitute language: The substitute language requires the “viatical settlement contract” shall not be less than the cash surrender value or accelerated death benefit available under the policy. It also specifies that in addition to the electronic filing of reports, a true and complete paper copy must be filed with the commissioner as well.

RESPONSE FROM ADMINISTRATION/AGENCY:

None

NATURE AND SOURCES OF SUPPORT:

The Connecticut Association of Healthplans supports the intent behind House Bill 7262. However, they do have some serious concerns over many of the definitions within the proposal and feel they may result in unintended consequences.

NATURE AND SOURCES OF OPPOSITION:

None

Reported by: Carol A. Hazen

Date: 03/26/2007