6097-S AMS ROLF S6599.2
SSB 6097 - S AMD 1101
By Senator Rolfes
ADOPTED 02/17/2020
On page 1, line 10, after "commissioner" strike "must" and insert "may"
On page 1, line 10, after "surplus" insert ", capital, or profit"
On page 1, line 12, after "surplus," insert "capital, or profit levels,"
On page 1, line 13, after "the" insert "current"
On page 1, line 13, after "carriers" insert ", including those"
On page 1, beginning on line 14, after "facilities" strike all material through "affiliated" on line 16
On page 2, line 1, after "(4)" insert "Nothing in this section affects the requirement that all approved individual and small group rates be actuarially sound according to chapter
48.19, 48.44, or
48.46 RCW.
(5)"
Correct any internal references accordingly.
SSB 6097 - S AMD 1101
By Senator Rolfes
ADOPTED 02/17/2020
On page 1, line 2 of the title, after "surplus" insert ", capital, or profit"
EFFECT: (1) Permits, instead of requiring, the OIC to review surplus, capital, or profit levels as elements in determining the reasonableness of rates.
(2) Permits the review of capital and profits, in addition to surpluses, as part of rate review.
(3) Requires the commissioner to take into consideration all current capital facility needs for carriers, including those maintaining and operating hospitals and clinics, instead of requiring the commissioner to only consider the capital facility needs of carriers that maintain hospitals and clinics.
(4) Removes the requirement for the commissioner to consider surplus levels required by a national association with which the carrier is affiliated.
(5) Clarifies that the rate review requirements do not affect the requirements that rates be actuarially sound.
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