Delaware Senate Bill 202 (Prior Session Legislation)

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Completed Legislative Action
Spectrum: Partisan Bill (Democrat 4-0)
Status: Passed on September 2 2014 - 100% progression
Action: 2014-09-02 - Signed by Governor
Text: Latest bill text (Engrossed) [HTML]

This bill amends Title 18, Chapter 58 Risk-Based Capital (RBC) For Insurers by designating the current chapter as Sub-Chapter I and by adding Sub-Chapter II, which shall be known as Risk-Based Capital (RBC) for Health Organizations. The bill’s language comes directly from the NAIC Model Law, Risk-Based Capital (RBC) For Health Organizations and is an accreditation requirement as of January 1, 2015. Risk-based capital “RBC” is a method of establishing the minimum amount of capital appropriate for a health organization to support its overall business operations in consideration of its size, structure and risk profile. The term “health organization” means a health maintenance organization, limited health service organization, dental or vision plan, hospital, medical and dental indemnity or service corporation or other managed care organization licensed under Title 18. It should be noted that property/casualty insurers and life and/or health insurers licensed under Chapter 5 are already subject to Chapter 58 - Risk-Based Capital (RBC) For Insurers. By operation, the RBC formula result is compared to the total adjusted capital of a health organization to determine if any action by the Insurance Commissioner is necessary. An excess of capital (i.e. net worth) over the amount produced by the risk-based capital requirements contained in this Sub-Chapter II and the formulas, schedules and instructions referenced in this Sub-Chapter II is desirable in the business of health insurance. These RBC reports, instructions, plans, etc. are intended solely for use by the Commissioner in monitoring the solvency of the health organizations within this State and the need for possible corrective action with respect to such health organizations. This bill also amends two provisions of the Insurance Code to make this new sub-chapter applicable to Managed Care Organizations (MCOs) and health service corporations.

An Act To Amend Title 18 Of The Delaware Code Relating To Risk-based Capital (rbc) For Health Organizations.

Sen. Brian Bushweller [D]

Rep. Bryon Short [D]

Sen. Bruce Ennis [D]

Sen. Robert Venables [D]

2014-07-01 - House - House Third Reading (Y: 41 N: 0 NV: 0 Abs: 0) [PASS]
2014-05-13 - Senate - Senate Third Reading (Y: 20 N: 0 NV: 0 Abs: 1) [PASS]

Date	Chamber	Action
2014-09-02	Senate	Signed by Governor
2014-07-01	House	Passed by House of Representatives. Votes: Passed 41 YES 0 NO 0 NOT VOTING 0 ABSENT 0 VACANT
2014-06-04	House	Reported Out of Committee (ECONOMIC DEVELOPMENT/BANKING/INSURANCE/COMMERCE) in House with 8 On Its Merits
2014-05-14	House	Introduced and Assigned to Economic Development/Banking/Insurance/Commerce Committee in House
2014-05-13	Senate	Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2014-05-13	Senate	Amendment SA 2 - Passed by Senate. Votes: Passed 20 YES 0 NO 0 NOT VOTING 1 ABSENT 0 VACANT
2014-05-13	Senate	Amendment SA 2 - Introduced in Senate
2014-05-13	Senate	Amendment SA 1 - Stricken
2014-05-08	Senate	Amendment SA 1 - Introduced and Placed With the Bill in Senate
2014-05-08	Senate	Reported Out of Committee (INSURANCE) in Senate with 6 On Its Merits
2014-04-29	Senate	Assigned to Insurance Committee in Senate

Type	Source
Summary	http://legis.delaware.gov/LIS/lis147.nsf/2bede841c6272c888025698400433a04/2ee9be45eac0081f85257cb4006db273?OpenDocument
Text	http://legis.delaware.gov/LIS/lis147.nsf/vwLegislation/SB+202/$file/legis.html?open
Text	http://legis.delaware.gov/LIS/lis147.nsf/EngrossmentsforLookup/SB+202/$file/Engross.html?open
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/65897655b245c08685257cd700656cef?OpenDocument
Roll Call	http://legis.delaware.gov/LIS/lis147.nsf/7712cf7cc0e9227a852568470077336f/f470457d413990eb85257d08002631da?OpenDocument