CT SB00994

Requires parties to continue abiding by contract terms for a minimum of 60 days following termination or nonrenewal of a hospital-insurer contract that was not mutually agreed upon.

Mandates that parties negotiate new contract terms for at least 30 days after the initial 60-day period or until an agreement is reached, whichever comes first, while continuing to abide by existing contract terms.

Allows the Commissioner of Public Health to waive the 60-day and 30-day time period requirements if either party terminated the contract for cause.

Applies to contracts between insurers and hospitals or health systems for delivery of and reimbursement for health care services.

Effective October 1, 2015.