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SF 1037

as introduced - 93rd Legislature (2023 - 2024) Posted on 02/02/2023 10:05am

KEY: stricken = removed, old language.
underscored = added, new language.

Current Version - as introduced

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A bill for an act
relating to insurance; requiring the commissioner of commerce to defray costs to
health plan companies for additional benefits; amending Minnesota Statutes 2022,
section 62J.26, subdivision 4, by adding a subdivision.


Section 1.

Minnesota Statutes 2022, section 62J.26, subdivision 4, is amended to read:

Subd. 4.

Sources of funding.

(a) The commissioner shall not use any funds for purposes
of deleted text beginthis sectiondeleted text endnew text begin subdivisions 1 to 3new text end other than as provided in this subdivision or as specified
in an appropriation.

(b) The commissioner may seek and accept funding from sources other than the state to
pay for evaluations under this section to supplement or replace state appropriations. Any
money received under this paragraph must be deposited in the state treasury, credited to a
separate account for this purpose in the special revenue fund, and is appropriated to the
commissioner for purposes of this section.

(c) If an evaluation is required under this section, the commissioner may use for purposes
of the evaluation:

(1) any funds appropriated to the commissioner specifically for purposes of this section;

(2) funds available under paragraph (b), if use of the funds for evaluation of that mandated
health benefit proposal is consistent with any restrictions imposed by the source of the funds.

(d) The commissioner must ensure that the source of the funding has no influence on
the process or outcome of the evaluation.

Sec. 2.

Minnesota Statutes 2022, section 62J.26, is amended by adding a subdivision to

new text begin Subd. 6. new text end

new text begin Defrayal of cost. new text end

new text begin If an evaluation concludes that the proposal increases
premiums, the commissioner must:
new text end

new text begin (1) upon passage of the law, notify health plan companies of the change to benefits and
request a report regarding costs attributable to the change in benefit. A health plan company's
calculation of the costs must be:
new text end

new text begin (i) based on an analysis performed in accordance with generally accepted actuarial
principles and methodologies; and
new text end

new text begin (ii) conducted by a member of the American Academy of Actuaries; and
new text end

new text begin (2) within 60 days of the date the statement is received from the health plan company,
pay the health plan company the amount requested to defray the cost of the change in benefit.
new text end