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An act relating to the department of banking, insurance, securities, and health care administration

The House proposes to the Senate to amend the bill by adding two new sections to read as follows:

Sec. 18.  8 V.S.A. § 5102b(l) is amended to read:

(l)  The commissioner shall adopt rules that establish solvency standards for provider-sponsored networks, including provider-sponsored organizations, for the Medicare+Choice Medicare Advantage program, as described in 42 U.S.C. § 1395w-21, in conformance with the solvency standards established by the Secretary of Health and Human Services under 42 U.S.C. § 1395w-26. Provider-sponsored networks shall be licensed under this chapter to offer a Medicare+Choice Medicare Advantage plan by complying with the solvency rules adopted under this subsection; except that a provider-sponsored network that offers any health plan other than or in addition to a Medicare+Choice Medicare Advantage plan shall comply with the solvency standards of this chapter instead of those adopted specifically for Medicare+Choice Medicare Advantage plans under this subsection.  A provider-sponsored network licensed under this chapter shall not be required to offer any insurance product apart from Medicare+Choice Medicare Advantage.  For purposes of this subsection, “provider-sponsored network” or “provider-sponsored organization” shall have the same definition as in 42 U.S.C. § 1395w-25(d).



For the purpose of preventing federal preemption of state law with respect to Medicare supplemental insurance policies, the department of banking, insurance, securities, and health care administration may adopt amendments to its administrative rule (Regulation H-2001-02; Medicare Supplement Insurance Minimum Standards Regulations) on or before September 1, 2005 by emergency rule, provided the department is actively engaged in the process of proposing to amend such rule pursuant to the non-emergency rule-making process.

and by renumbering the remaining section to be numerically correct

Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont