HB 390-FN - AS INTRODUCED
2015 SESSION
15-0472
01/05
HOUSE BILL 390-FN
AN ACT relative to stop loss insurance.
SPONSORS: Rep. Butler, Carr 7; Rep. Hunt, Ches 11
COMMITTEE: Commerce and Consumer Affairs
This bill adjusts the group size for purposes of stop loss insurance.
This bill is a request of the insurance department.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
15-0472
01/05
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Fifteen
AN ACT relative to stop loss insurance.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 Stop Loss Insurance; Group Size. Amend the introductory paragraph of RSA 415-H:3, I(b) to read as follows:
(b) Has an annual aggregate attachment point, for groups of [50] 100 or fewer, that is lower than the greater of:
2 Stop Loss Insurance; Group Size. Amend RSA 415-H:3, I(c) to read as follows:
(c) Has an annual aggregate attachment point for groups of [51] 101 or more that is lower than 110 percent of expected claims; or
3 Effective Date. This act shall take effect January 1, 2016.
LBAO
15-0472
01/15/15
HB 390-FN - FISCAL NOTE
AN ACT relative to stop loss insurance.
FISCAL IMPACT:
The Insurance Department states this bill, as introduced, may increase state revenues by an indeterminable amount, and will have an indeterminable impact on county and local expenditures in FY 2016 and each year thereafter. There will be no fiscal impact on state expenditures or county and local revenue.
METHODOLOGY:
The Insurance Department states this bill changes the applicable employer size, from 51 to 101, to which certain standards apply for stop loss insurance. The proposed bill may cause employers with 51 to 100 employees to move from a self-funded plan to a fully insured plan, which may increase the number of fully insured plans. The Department states the per covered person taxable premium is greater for a fully insured plan than a self-funded plan. Therefore, this bill may increase the assessments to health insurers paying the insurance premium tax and increase state revenue. The Department reports the impact on county and local expenditures is indeterminable but some entities may need to switch from self-funded to a fully insured plan. The Department indicates this bill may lead some employers to assume more risk or pay more for coverage.