Florida Senate - 2012                        COMMITTEE AMENDMENT
       Bill No. SB 668
                                Barcode 928020                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       The Committee on Health Regulation (Fasano) recommended the
    1         Senate Amendment (with title amendment)
    3         Delete line 39
    4  and insert:
    5         Section 2. Effective upon this act becoming a law and
    6  before July 1, 2012, the Department of Financial Services shall
    7  conduct a retrospective review of any rate filing submitted by a
    8  rating organization on behalf of workers compensation or
    9  employer’s liability insurance carriers during the previous 12
   10  months which resulted in a rate increase. The department’s
   11  review must determine whether the information, data, and
   12  documentation included in the rate filings includes cost
   13  information demonstrating that 2.5 percent of the overall rate
   14  increase that was subsequently approved was directly
   15  attributable to the costs of repackaging prescription
   16  medications. If the department determines that such
   17  documentation or information was not included in the rate
   18  filing, the department shall report such information to the
   19  Office of Insurance Regulation. The office shall immediately
   20  reduce the rates of workers compensation and employer liability
   21  insurance carriers by 2.5 percent. The department shall also
   22  make its review available to the Senate and the House of
   23  Representatives by October 1, 2012.
   24         Section 3. Except as otherwise expressly provided in this
   25  act and except for this section, which shall take effect upon
   26  this act becoming a law, this act shall take effect July 1,
   27  2012.
   29  ================= T I T L E  A M E N D M E N T ================
   30         And the title is amended as follows:
   31         Delete lines 6 - 7
   32  and insert:
   33         medication; providing limitations; requiring the
   34         Department of Financial Services to conduct a
   35         retrospective review of certain rate filings to
   36         determine if the filings were supported by
   37         documentation demonstrating that a certain portion of
   38         the approved rate increase was attributable to the
   39         costs of repackaging prescription medications;
   40         providing effective dates.