This bill amends various sections of Minnesota Statutes to make technical and date adjustments to the Minnesota premium security plan, which is a state-based reinsurance program. Key changes include the requirement for the association to disburse reinsurance payments for the benefit year 2027 by September 30, and adjustments to the assessment process for group health carriers in 2028. Specifically, the bill modifies the timeline for notifying carriers about their assessments and the due date for payment, moving the deadlines from June 30 to July 25 and from August 1 to August 29, respectively. Additionally, it allows for the possibility of deferring assessments for carriers in financial distress, with specific conditions and timelines for approval.

Furthermore, the bill introduces a reinsurance credit for taxpayers starting with taxable years after December 31, 2028, allowing them to claim a credit against the premiums tax equal to the assessment paid in the previous year. It also clarifies that the amount sufficient for refunds under this section will be appropriated from the general fund. The commissioner of commerce is tasked with providing an annual list of assessments paid by taxpayers to the commissioner by March 1 of the following year. Overall, these amendments aim to streamline the administration of the premium security plan and ensure timely financial support for eligible health carriers.

Statutes affected:
Introduction: 62E.23