MS SB2227

Expands the Mississippi Life and Health Insurance Guaranty Association to include health maintenance organization (HMO) subscriber contracts and certificates under coverage.

Requires HMOs holding a certificate of authority to be and remain member insurers of the association as a condition of transacting HMO business in Mississippi.

Removes the maximum limitation on Class A assessments and provides that Class B assessments for long-term care insurance be allocated 50% to accident and health member insurers and 50% to life and annuity member insurers.

Increases the nonpro rata Class A assessment cap from $300 to $500 per member insurer per calendar year.

Amendments apply prospectively and do not affect member insurers already placed under liquidation orders with findings of insolvency before the effective date of July 1, 2020.