NC H650

Expands coverage under the Life and Health Insurance Guaranty Association to include interest rates and crediting rates determined by external indexes or references in addition to stated interest rates in policies.

Excludes Medicare Parts C and D policies and uncredited index-based policy values from Guaranty Association coverage.

Increases coverage limits for basic hospital, medical, and surgical insurance or major medical insurance to $500,000 per individual, while maintaining $300,000 limit for other health insurance coverages.

Allows the Association to issue substitute policies with fixed interest rates or alternative calculation methods in place of index-based provisions when guaranteeing, assuming, or reinsuring policies.

Increases the maximum Class A assessment cap from $150 to $500 per member insurer per calendar year.