Florida 2023 Regular Session

Florida House Bill H1329 Compare Versions

Only one version of the bill is available at this time.

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3	3	HB 1329 2023
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8	8	hb1329-00
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10	10	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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14	14	A bill to be entitled 1
15	15	An act relating to health insurance coverage by out -2
16	16	of-state insurers; amending s. 624.404, F.S.; 3
17	17	authorizing foreign insurers that have secured 4
18	18	regulatory approval from a United States territory 5
19	19	regulatory authority to transact health insurance in 6
20	20	this state under certain circumstances; authorizing 7
21	21	actions to be filed in courts of this state against 8
22	22	such insurance transactions and insurers under c ertain 9
23	23	circumstances; providing that such insurance 10
24	24	transactions and insurers are subject to other 11
25	25	provisions of the Florida Insurance Code under certain 12
26	26	circumstances; exempting such insurers from insurance -13
27	27	specific taxes; defining the term "territory of the 14
28	28	United States"; providing an effective date. 15
29	29	16
30	30	Be It Enacted by the Legislature of the State of Florida: 17
31	31	18
32	32	Section 1. Subsection (2) of section 624.404, Florida 19
33	33	Statutes, is amended to read: 20
34	34	624.404 General eligibility of insurers for certifica te of 21
35	35	authority.—To qualify for and hold authority to transact 22
36	36	insurance in this state, an insurer must be otherwise in 23
37	37	compliance with this code and with its charter powers and must 24
38	38	be an incorporated stock insurer, an incorporated mutual 25
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40	40	HB 1329 2023
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44	44	CODING: Words stricken are deletions; words underlined are additions.
45	45	hb1329-00
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47	47	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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49	49
50	50
51	51	insurer, or a reciprocal insurer, of the same general type as 26
52	52	may be formed as a domestic insurer under this code; except 27
53	53	that: 28
54	54	(2)(a) A foreign or alien insurer or exchange may not be 29
55	55	authorized to transact insurance in this state unless it is 30
56	56	otherwise qualified there for under this code and has operated 31
57	57	satisfactorily for at least 3 years in its state or country of 32
58	58	domicile; however, the office may waive the 3 -year requirement 33
59	59	if the foreign or alien insurer or exchange: 34
60	60	1.(a) Has operated successfully and has capita l and 35
61	61	surplus of $5 million; 36
62	62	2.(b) Is the wholly owned subsidiary of an insurer which 37
63	63	is an authorized insurer in this state; 38
64	64	3.(c) Is the successor in interest through merger or 39
65	65	consolidation of an authorized insurer; 40
66	66	4.(d) Provides a product or ser vice not readily available 41
67	67	to the consumers of this state; or 42
68	68	5.(e) Possesses sufficient capital and surplus to support 43
69	69	its plan of operation as filed with the office. 44
70	70	(b)1. Notwithstanding paragraph (a) or any other provision 45
71	71	of law, a foreign insurer may issue or deliver individual, 46
72	72	group, or small employer health insurance policies, plans, or 47
73	73	contracts; issue or deliver multiple -employer welfare 48
74	74	arrangements; or otherwise transact health insurance if the 49
75	75	foreign insurer: 50
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77	77	HB 1329 2023
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81	81	CODING: Words stricken are deletions; words underlined are additions.
82	82	hb1329-00
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84	84	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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88	88	a. Has secured regulatory a pproval from the relevant 51
89	89	regulatory authority of any territory of the United States to 52
90	90	issue or deliver such health insurance policies, plans, or 53
91	91	contracts or such multiple -employer welfare arrangements or to 54
92	92	otherwise transact health insurance. 55
93	93	b. Submits to the office all documentation that such 56
94	94	territorial regulatory authority may require, including, but not 57
95	95	limited to, documentation regarding: 58
96	96	(I) Financial statements and solvency. 59
97	97	(II) Forms, including applications for coverage, 60
98	98	contracts, and riders. 61
99	99	(III) Rates, including actuarial certifications. 62
100	100	(IV) Provider networks. 63
101	101	c. Incorporates all requirements and consumer protections 64
102	102	that such territorial regulatory authority may require into the 65
103	103	terms of such health insurance policies, plans, or contracts, 66
104	104	such multiple-employer welfare arrangements, or such health 67
105	105	insurance transactions. 68
106	106	d. Incorporates into such health insurance policies, 69
107	107	plans, or contracts, such multiple -employer welfare 70
108	108	arrangements, or such health insurance transaction s the foreign 71
109	109	insurer's consent to have courts in this state enforce all 72
110	110	requirements and consumer protections that such territorial 73
111	111	regulatory authority may impose. A person in this state who is 74
112	112	affected by such insurer's failure to enforce a requirement or 75
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118	118	CODING: Words stricken are deletions; words underlined are additions.
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121	121	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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125	125	consumer protection imposed by such territorial regulatory 76
126	126	authority may file an action in a court of this state to obtain 77
127	127	an order that the requirement or consumer protection be 78
128	128	enforced. 79
129	129	e. Displays prominently on all marketing materials, 80
130	130	applications, and contracts that the laws of the relevant 81
131	131	territory of the United States, not the laws of this state, 82
132	132	govern such health insurance policies, plans, or contracts, such 83
133	133	multiple-employer welfare arrangements, or such health insurance 84
134	134	transactions. 85
135	135	2. Failure to comply with subparagraph 1. subjects the 86
136	136	health insurance policies, plans, or contracts, multiple -87
137	137	employer welfare arrangements, or health insurance transactions 88
138	138	and the insurer to other provisions in the Florida Insurance 89
139	139	Code regarding foreig n insurers and health insurance policies, 90
140	140	plans, and contracts, multiple -employer welfare arrangements, 91
141	141	and health insurance transactions. 92
142	142	3. A foreign insurer authorized under subparagraph 1. to 93
143	143	issue or deliver health insurance policies, plans, or cont racts 94
144	144	or multiple-employer welfare arrangements or otherwise transact 95
145	145	health insurance in this state is exempt from all insurance -96
146	146	specific taxes imposed by this state, including, but not limited 97
147	147	to, insurance premium tax and nonadmitted insurance tax under s. 98
148	148	626.9362. 99
149	149	4. As used in this paragraph, the term "territory of the 100
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158	158	F L O R I D A H O U S E O F R E P R E S E N T A T I V E S
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162	162	United States" includes America Samoa, the Commonwealth of 101
163	163	Puerto Rico, Guam, the Northern Mariana Islands, and the United 102
164	164	States Virgin Islands. 103
165	165	Section 2. This act shall take ef fect July 1, 2023. 104