HB 0079 Life Ins./Donations/HMO Copaymts./Charitable Solicitations
Sponsor:CHAMPION Handling House Bill:FLOTRON
Committee:COMM LR Number:L0054.01T
Last Action:07/07/95 - Vetoed by Governor
Effective Date:August 28, 1995
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Current Bill Summary

HB 79 - CHARITABLE SOLICITATIONS: Tax-exempt organizations are authorized to solicit and procure an interest in life insurance on the life of any person donating such interest. All solicitors on behalf of tax-exempt organizations shall disclose the percentage of funds spent for charitable purposes.

LIFE INSURANCE/SUICIDE EXCLUSION: Life insurance policies may exclude liability for coverage if insured person commits suicide during the first year of coverage under the policy. In such case, premiums paid for such person under the policy shall be refunded to the insured's estate. Notice of any such policy exclusion shall be stamped or printed on the face of the policy.

HEALTH PLAN DEDUCTIBLES AND COPAYMENTS: An insurance company or health services corporation operating a health plan requiring a deductible, copayment or coinsurance or establishing a benefit maximum amount shall base such amount on the cost of service to the operator of the plan. This requirement shall apply to policies issued or renewed on or after January 1, 1996. The Department of Insurance may promulgate rules necessary to carry out this requirement. Such rules shall be submitted to the Joint Committee on Administrative Rules for approval.