Raised Bill No. 5378 seeks to amend existing laws governing self-funded multiple employer welfare arrangements (MEWAs) in Connecticut and mandates a study on the feasibility of establishing the Connecticut Option Program. The bill introduces new definitions for terms such as "employer member," "health benefit plan," and "self-funded multiple employer welfare arrangement," while clarifying that a health benefit plan does not include insurance products. It repeals Section 38a-1 of the general statutes and replaces it with updated language, reflecting a modernized legal framework for MEWAs. The bill also outlines the requirements for self-funded MEWA trusts, including licensing, minimum coverage levels, and fiduciary responsibilities, while ensuring compliance with health insurance regulations.

Additionally, the bill proposes the establishment of a Division of Consumer Affairs within the Insurance Department to address insurance-related complaints and mediate disputes. It expands the definition of "company" to include self-funded MEWA trusts and grants the Insurance Commissioner enhanced authority to examine these entities. The bill emphasizes confidentiality during examinations and protects the commissioner and examiners from liability for actions taken in good faith. It also mandates a comprehensive study by the Office of Policy and Management to evaluate the Connecticut Option Program, with interim and final reports due in 2027 and 2028, respectively. The bill includes several insertions to current law, specifying effective dates for various sections, while no deletions are noted in the text.

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Raised Bill: