| 1 | A bill to be entitled |
| 2 | An act relating to the Healthy Florida Small Employer Stop |
| 3 | Loss Fund; creating s. 627.66991, F.S.; creating the |
| 4 | Healthy Florida Small Employer Stop Loss Fund within the |
| 5 | Office of Insurance Regulation; providing purposes; |
| 6 | providing for administration of the fund by the office; |
| 7 | authorizing the Chief Financial Officer to invest moneys |
| 8 | in the fund; providing for review of the fund; providing |
| 9 | for future repeal; providing a contingent effective date. |
| 10 |
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| 11 | Be It Enacted by the Legislature of the State of Florida: |
| 12 |
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| 13 | Section 1. Section 627.66991, Florida Statutes, is created |
| 14 | to read: |
| 15 | 627.66991 Healthy Florida Small Employer Stop Loss Fund.-- |
| 16 | (1) The Healthy Florida Small Employer Stop Loss Fund is |
| 17 | created within the Office of Insurance Regulation. |
| 18 | (2) The fund is established for purposes of reimbursing |
| 19 | small employer carriers, in accordance with s. 627.6699(17), to |
| 20 | the extent that funds are available, for claims paid by such |
| 21 | small employer carriers. The fund shall be administered by the |
| 22 | office, and the costs of administering the fund shall be paid by |
| 23 | the fund. The Chief Financial Officer shall invest the money of |
| 24 | the fund in the same manner as other state money may be |
| 25 | invested, and any investment earnings of the fund shall be |
| 26 | retained to the credit of the fund. |
| 27 | (3) In accordance with s. 19(f)(2), Art. III of the State |
| 28 | Constitution, the Healthy Florida Small Employer Stop Loss Fund, |
| 29 | unless terminated sooner, shall terminate on July 1, 2010. |
| 30 | Before its scheduled termination, the trust fund shall be |
| 31 | reviewed as provided in s. 215.3206(1) and (2). |
| 32 | (4) This section is repealed July 1, 2010. |
| 33 | Section 2. This act shall take effect July 1, 2006, only |
| 34 | if HB 1391 or similar legislation is adopted in the same |
| 35 | legislative session or an extension thereof and becomes a law. |