Senate Bill 556 Summary

• Insurance operations of the North Carolina Health Insurance Risk Pool sunset on January 1, 2014, with a detailed dissolution plan due to the Insurance Commissioner by September 1, 2013.

• Medical, pharmacy, and other service invoices, as well as appeals and grievances, must be submitted within 90 days after the Pool's sunset to be processed in the regular course of business.

• All legal actions by or against the Pool must be filed within one year of the January 1, 2014 sunset date, with the Pool's liability limited to a reserve amount established in the dissolution plan after that deadline.

• One million dollars is appropriated from the General Fund to the North Carolina Health Insurance Risk Pool Fund to support dissolution activities.

• The Teachers' and State Employees' Comprehensive Major Medical Plan's final surcharge payment to the Pool for fiscal year 2013-2014 shall be made in quarterly installments due December 1, 2013, March 1, 2014, June 1, 2014, and September 1, 2014.