HB1806 Summary

• Allows the Insurance Commissioner to appoint non-departmental personnel, including attorneys and retired judges, as independent hearing officers when the commissioner has a conflict of interest.

• Establishes minimum attachment point requirements for employee stop-loss insurance policies ($20,000 individual annual minimum; $4,000 per group member for groups of 50 or fewer).

• Requires all authorized insurers to file audited financial statements annually by June 1, and amends risk-based capital laws for insurers, health maintenance organizations, and health service corporations.

• Authorizes the Insurance Commissioner to issue emergency cease and desist orders against licensees and allows nonresident producer licenses to be suspended by operation of law when home state licenses are suspended, revoked, or terminated.

• Removes caps on reimbursement levels for children's preventive health care services and requires prior approval for health maintenance organization mergers or acquisitions.