|
For
a printer friendly version - click
here
- LEG REG REVIEW
- 2004, Eighth
Issue
-
- LEG REG REVIEW is a periodic newsletter produced by PHILLIPS ASSOCIATES,
a professional lobbying and consultant firm based near the State
Capitol. It contains
news on the Legislative and Regulatory scene in Pennsylvania that
may be of use to insurance producers, companies, and interested
parties. It is a free
Member Service if you are a member of the Pennsylvania Association
of Health Underwriters (PAHU) or the PA Surplus Lines Association (PSLA).
Subscription information may be obtained by contacting
PHILLIPS ASSOCIATES at 717/728-1217, Fax 717/728-1164 or E-mail to xenobun@aol.com.
-
- IMPORTANT NOTICE TO LEG-REG RECIPIENTS
-
- Cost
of faxing is climbing due to increased demand for the Leg-Reg
Review. We ask that
you assist us in keeping this publication economical.
Please send your email address to jtrout2792@aol.com
so that we can convert your subscription to email. If you prefer to receive it via fax, please let us know and
we will be happy to oblige. Likewise,
if you are receiving this publication and do not wish to, please
advise us and we will delete your name from our distribution list. (NOTE: PAHU and PSLA members receive this as a free member
service.)
-
- H S A HEARING FOCUSES ON PREMIUM SAVINGS
-
- The March
2 hearing on Health Savings Accounts (HSAs) convened by the House
Insurance and Health & Human Services Committees focused on the
viability of high deductible group health plans with a savings
account feature. HSAs
are designed to recoup savings into a special account that the
employee and family can use for medical needs.
Legislated by the 2003 Medicare reforms, HSAs follow on the
footsteps of Medical Savings Accounts, Flexible Spending Accounts,
and HRAs. What
distinguishes them is portability and employee ownership.
Speakers lauded HSAs for reducing employer health premiums
because of the high deductible plan and felt that health care costs
would decline because minor ailments would not warrant a trip to the
doctor since consumers would manage cost instead of being shielded
by employer subsidy (up until the deductible is paid).
Testifying for HB 2299 (Payne-R-Dauphin) were the Insurance
Federation, PA Manufacturers Association, the NFIB, several
insurance companies, and the Pennsylvania Association of Health
Underwriters.
-
- While
generally well received by lawmakers, opposition came from Rep. Todd
Eachus (D-Luzerne) who maintained that HSAs were for the
‘privileged’ and would not help those workers at marginal
levels. MSA First
suggested that amendments were needed to bring HB 2299 in line with
Federal law. The
Insurance Federation suggested that a simple amendment to a 1996 law
establishing PA tax incentives for MSAs could simply be amended to
include this new product. No
group testified in opposition to the bill.
-
- PAHU
noted that HSAs might be necessary to stabilize the group market
given the fact that most Pennsylvanians receive their health
benefits through the group. Thus,
HSAs should be supported both by those who want to see individual
insurance grow (personal choice etc.) and those who prefer the group
model.
-
- CORRECTION
-
- The last
issue of Leg-Reg Review incorrectly identified PA Cable
Network’s web site. The
correct listing is www.pcntv.com. This site gives you access to coverage of various hearings
and Capitol Hill events.
-
- WORKER’S COMP NOTES
-
- ·
The
Bureau of Worker’s Compensation issued a notice to the effect that
the statewide average weekly wage for injuries occurring on or after
January 1, 2004 is $ 690.00 per week.
The update to medical treatment payments on and after January
1, 2004, the percentage increase in the statewide average weekly
wage is 2.2 percent.
- ·
The
Insurance Department notified Worker’s Compensation insurance
carriers that by April 15, 2004, they must supply information for
calendar year 2003, some of which includes premium, losses,
deductible adjustments, claim counts etc.
The form is Special schedule W.
Details: Brenna Murphy, Actuarial associate, 717/783-2114, bmurphy@state.pa.us.
-
- THIS MAY BE TORT WEEK
-
- March 9 remains the date set for debate and a Senate vote on tort
reform. On the schedule
is a vote on Senate Bill 9 sponsored by Sen. Hal Mowery
(R-Cumberland). This is
a vehicle on which an amendment may be offered by Sen. Jake Corman
(R-Centre) to amend the PA Constitution to permit the General
Assembly to cap awards for non-economic damages.
The Senate Judiciary Committee moved SB 9 because of
committee inability to reach consensus. The vote is expected to be very close.
-
- DEPARTMENT
NOTES
-
- ·
Daily
Underwriters of America, a PA stock property insurance company, has
submitted a Plan of Recapitalization to the Insurance Department.
- ·
SwissRe
has filed an application to purchase Valley Forge Life Insurance
Company.
- ·
The
2004 Organization Chart of the PA Insurance Department was published
in the PA Bulletin February 28.
Publication of this chart is required annually under PA law.
-
- PHILLIPS ASSOCIATES ANNOUNCES PRE-LICENSING COURSES
-
- PHILLIPS ASSOCIATES announced several offerings of
Pre-Licensing education for both P/C and Life/Accident/Health.
They will be offered in Horsham April 26-28 (L/A/H),
Harrisburg (both P/C and L/A/H) on June 15-17, and Monroeville with
L/A/H offered June 23-25 and P/C July 14-16.
Details: 717/732-7255.
-
-
-
-
-
-
|
|