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
    1         Senate Amendment to Amendment (409686) (with title
    2  amendment)
    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.
   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.