HB21-1033 Summary

• Adds health maintenance organizations (HMOs) as member insurers to the Life and Health Insurance Protection Association and subjects HMOs to assessments from the association.

• Expands the definition of "health benefit plan" to include HMO subscriber contracts and establishes separate coverage limits for long-term care insurance benefits.

• Allocates long-term care insurance assessment costs fifty-fifty between accident and health member insurers and life and annuity member insurers, rather than distributing among all accounts.

• Increases the board of directors from five to seven members minimum and nine to eleven members maximum, allowing for greater HMO representation.

• Applies to member insurers declared insolvent on or after the effective date of the bill, with prior insolvencies governed by previous law provisions.