HB20-1199
Lower Minimum For Employer Health Stop-loss Insurance
Concerning a reduction in the minimum amount of liability that must be retained by a self-insured employer that purchases stop-loss health insurance.
Session:
2020 Regular Session
Subjects:
Bill Summary
Business & Economic Development
Health Care & Health Insurance
Insurance
Labor & Employment
Under current law, employers with 50 or fewer employees who self-insure can purchase stop-loss insurance to cover the cost of employee health benefits exceeding $20,000 per employee per year. However, insurers are prohibited from issuing stop-loss policies with an attachment point below $20,000. The bill lowers this minimum to $10,000 per employee per year. The bill also makes a corresponding change in the minimum retention amount for larger employers, from $15,000 to $10,000.
(Note: This summary applies to this bill as introduced.)