SB292 Summary

• Applies the Arkansas Life and Health Insurance Guaranty Association Act to health maintenance organizations by adding HMO coverage as a section applicable to HMO Insurance Code provisions

• Expands the definition of "member insurer" to explicitly include health maintenance organizations licensed to transact business in Arkansas

• Makes technical corrections throughout the act including removing "accident and" from several provisions to clarify language referring to health insurance coverage

• Removes the exclusion that prevented health maintenance organizations from being subject to the guaranty association's coverage and assessment requirements

• Ensures health maintenance organization subscribers and enrollees receive the same protections and coverage limits as traditional insurance policyholders under the guaranty association