House Bill 1141 amends various sections of Florida Statutes to enhance the regulatory framework governing insurance providers, health maintenance organizations (HMOs), and continuing care providers. Key provisions include designating the Chief Financial Officer (CFO) as the agent for service of process for insurers withdrawing from operations, expanding the definition of "life and health insurer," and introducing new requirements for insurers to submit rate transparency reports and adhere to cybersecurity rules. The bill also removes certain provisions related to reinsurance credits and the Florida Small Employer Health Reinsurance Program, while establishing stricter regulations for continuing care providers, including maintaining minimum liquid reserves and creating subscriber savings accounts.

Additionally, the bill emphasizes consumer protection by mandating public access to rate filings, requiring insurers to provide detailed rate transparency reports, and enhancing the oversight of management companies and continuing care facilities. It introduces new definitions and standards for assessing financial stability, clarifies the responsibilities of providers regarding financial reporting, and allows for the denial or revocation of authority for providers with individuals found guilty of felonies. Overall, HB 1141 aims to modernize Florida's insurance regulations, improve transparency, and ensure the financial stability of insurers and continuing care facilities, with certain provisions set to take effect on July 1, 2025.

Statutes affected:
H 1141 Filed: 48.151, 252.63, 624.4085, 624.45, 626.9651, 627.062, 627.0645, 627.0651, 627.4554, 627.7152, 628.081, 628.4615, 628.717, 628.719, 628.910, 629.011, 629.071, 629.081, 629.121, 629.171, 629.181, 629.201, 629.301, 634.401, 651.018, 651.019, 651.034, 651.043, 651.055, 651.071, 651.1065, 651.108, 651.114, 627.642, 627.657, 627.66997