FL H0465

Redefines "life and health insurer" in Florida Statutes to include health maintenance organizations (HMOs) authorized only in Florida, with limited exceptions for certain legacy HMOs until January 1, 2019.

Creates Section 641.224 establishing a maximum premium to surplus ratio of 10:1 for HMOs, calculated using direct premium written, reinsurance assumed, and actual or projected risk revenue multiplied by 0.80 on an annualized basis.

Requires HMOs to base projected annual gross written premium on actual writings for the current calendar year, prior calendar year, or both.

Authorizes the Office of Insurance Regulation to suspend an HMO's certificate of authority or establish maximum annual gross premiums if the 10:1 ratio is exceeded, unless the HMO demonstrates the excess does not endanger its financial condition or policyholders.

Exempts HMOs with surplus exceeding $40 million and continuous written health maintenance contracts over the preceding 5 calendar years, and exempts HMOs holding certificates before the effective date until January 1, 2019.