Florida Senate - 2012 COMMITTEE AMENDMENT Bill No. SB 668 Barcode 695294 LEGISLATIVE ACTION Senate . House Comm: RE . 02/23/2012 . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Health Regulation (Fasano) recommended the following: 1 Senate Amendment to Amendment (409686) (with title 2 amendment) 3 4 Delete line 92 5 and insert: 6 Section 2. Effective upon this act becoming a law and 7 before July 1, 2012, the Office of Insurance Regulation shall 8 conduct a retrospective review of any rate filing submitted by a 9 rating organization on behalf of workers’ compensation or 10 employer’s liability insurance carriers during the previous 12 11 months which resulted in a rate increase. The office’s review 12 must determine whether the information, data, and documentation 13 included in the rate filings include cost information 14 demonstrating that 2.5 percent of the overall rate increase that 15 was subsequently approved was directly attributable to the costs 16 of repackaging prescription medications. If the office 17 determines that such documentation or information was not 18 included in the rate filing, the office shall immediately reduce 19 the rates of workers’ compensation and employer liability 20 insurance carriers by 2.5 percent. The office shall also make 21 its review available to the Senate and the House of 22 Representatives by October 1, 2012. 23 Section 3. Except as otherwise expressly provided in this 24 act and except for this section, which shall take effect upon 25 this act becoming a law, this act shall take effect July 1, 26 2012. 27 28 ================= T I T L E A M E N D M E N T ================ 29 And the title is amended as follows: 30 Delete line 113 31 and insert: 32 requiring the Office of Insurance Regulation to 33 conduct a retrospective review of certain rate filings 34 to determine if the filings were supported by 35 documentation demonstrating that a certain portion of 36 the approved rate increase was attributable to the 37 costs of repackaging prescription medications and to 38 reduce rates if not so supported; providing effective 39 dates.