The bill amends section 627.6699 of the Florida Statutes, focusing on small employer health insurance by eliminating the Florida Small Employer Health Reinsurance Program and updating related definitions and cross-references. Key deletions include the removal of terms such as "Board," "Plan of operation," and "Program," along with the entire subsection that established the reinsurance program. In its place, the bill introduces new language regarding "reinsurance" requirements for small employer carriers, shifting the emphasis towards risk assumption by these carriers.

Additionally, the bill establishes a new assessment structure for reinsuring carriers, limiting the first tier of assessments to 5 percent of premiums and a second tier to 0.5 percent, while exempting risk-assuming carriers from these assessments. It also updates identification card requirements for health insurance policies to include essential information clearly, and clarifies the roles of the board and the office in overseeing the individual health reinsurance program. The bill further modifies provisions related to group health insurance and stop-loss insurance for small employers, ensuring compliance with new definitions and criteria. The act is set to take effect on July 1, 2026.

Statutes affected:
S 1354 Filed: 627.642, 627.657, 627.66997