CERTIFICATION OF ENROLLMENT
ENGROSSED SUBSTITUTE SENATE BILL 6097
Chapter 247, Laws of 2020
66TH LEGISLATURE
2020 REGULAR SESSION
HEALTH CARRIER RATE FILING REVIEW--SURPLUS, CAPITAL, AND PROFIT LEVELS
EFFECTIVE DATE: June 11, 2020
Passed by the Senate March 10, 2020 Yeas 37 Nays 12 CYRUS HABIB
President of the Senate Passed by the House March 5, 2020 Yeas 83 Nays 14 LAURIE JINKINS
Speaker of the House of Representatives | CERTIFICATE I, Brad Hendrickson, Secretary of the Senate of the State of Washington, do hereby certify that the attached is ENGROSSED SUBSTITUTE SENATE BILL 6097 as passed by the Senate and the House of Representatives on the dates hereon set forth. BRAD HENDRICKSON
Secretary Secretary |
Approved March 31, 2020 11:09 AM | FILED March 31, 2020 |
JAY INSLEE
Governor of the State of Washington | Secretary of State State of Washington |
ENGROSSED SUBSTITUTE SENATE BILL 6097
AS AMENDED BY THE HOUSE
Passed Legislature - 2020 Regular Session
State of Washington | 66th Legislature | 2020 Regular Session |
BySenate Health & Long Term Care (originally sponsored by Senators Rolfes, Kuderer, Pedersen, Frockt, Conway, Randall, Carlyle, and Saldaña)
READ FIRST TIME 02/06/20.
AN ACT Relating to requiring the insurance commissioner to review a health carrier's surplus, capital, or profit levels as part of its rate filing review process; and adding a new section to chapter
48.43 RCW.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF WASHINGTON:
NEW SECTION. Sec. 1. A new section is added to chapter
48.43 RCW to read as follows:
(1) For individual and small group rate filings with an effective date on or after January 1, 2021, submitted by a health carrier for either the individual or small group markets, the commissioner may review the carrier's surplus, capital, or profit levels as an element in determining the reasonableness of the proposed rate.
(2) In reviewing the surplus, capital, or profit levels, the commissioner must take into consideration the current capital facility needs for carriers, including those maintaining and operating hospital and clinical facilities.
(3) Except as provided in subsection (1) of this section, this section does not affect the rate review authority granted to the commissioner by chapter
48.19, 48.44, or
48.46 RCW.
(4) 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) The commissioner may adopt rules to implement this section.
Passed by the Senate March 10, 2020.
Passed by the House March 5, 2020.
Approved by the Governor March 31, 2020.
Filed in Office of Secretary of State March 31, 2020.
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