Relating to insurance; and declaring an emergency.
Catchline/Summary:
Changes definition of "small employer" by increasing maximum number of eligible employees from 25 to 50.Authorizes Director of Department of Consumer and Business Services to consider profitability and investment income in approving premium rates of insurer.]
Changes definition of "small employer" by increasing maximum number of eligible employees from 25 to 50. Limits increases in premium rates due to change to 10 percent per year.] Modifies provisions relating to coverage and rates offered to small employers participating in group health benefit plans.
Increases maximum variability amount between premium rates and geographic average rate charged by small employer carriers. Requires Director of Department of Consumer and Business Services to adopt rules phasing in requirements for schedules of premium rate variations over three-year period after operative date of Act.
Becomes operative January 1, 2008.
Declares emergency, effective on passage.
Chapter Number:
Chapter 389
Fiscal Impact:
No Fiscal Impact
Revenue Impact:
May Have Revenue Impact, But No Statement Yet Issued
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