FL S1002

Requires managed care organizations contracting with Florida Medicaid to spend at least 85 percent of monthly premium revenue on direct health care benefits for enrollees.

Mandates quarterly certification to the Agency for Health Care Administration of medical loss ratios for the organization and its subcontractors, with behavioral health reported separately.

Requires immediate payment to the agency equal to the difference between 85 percent of total premium revenue and actual healthcare expenditures if the certified medical loss ratio falls below the 85-to-15 threshold.

Directs the Agency for Health Care Administration to adopt rules implementing the requirements and establishing sanctions for violations, with collected fines supplementing the agency's Medicaid budget rather than reverting to the General Revenue Fund.

Assigns all requirements and penalties to parent corporations, subsequent owners, or successors in interest of the managed care organization.