HB 450 (BR 317) - D. Sims
AN ACT relating to health insurance.
Create new sections of Subtitle 17A of KRS Chapter 304 to permit 2 or more employers to form a purchasing cooperative for the purchase of health insurance coverage for employees; define employer as any person, sole proprietor, self-employed individual, independent contractor, firm, corporation, partnership, or association that is actively engaged in business, has its principal place of business in Kentucky, and employs an average of not more than 25 employees during the calendar year; require a purchasing cooperative to be organized as a nonprofit corporation; require the cooperative to file a copy of the cooperative's certificate of existence with the Kentucky Department of Insurance; require the cooperative to file annually with the commissioner a statement of amounts collected and expenses incurred for each of the preceding 3 years; restrict liability of a cooperative; establish powers of a cooperative; require the experience of the cooperative to be pooled and rates blended across all members of the cooperative; permit cooperative to establish minimum time period for membership; prohibit a cooperative from self-insuring or self-funding; provide that a cooperative is not an insurer.
Jan 23-introduced in House
Jan 24-to Banking and Insurance (H)
Jan 28-posted in committee