Senate Bill sb2486

    Florida Senate - 2005                                  SB 2486

    By Senator Lynn





    7-566-05

  1                      A bill to be entitled

  2         An act relating to self-insurance funds;

  3         creating s. 624.4624, F.S.; authorizing two or

  4         more entities providing community mental health

  5         or substance abuse treatment services which are

  6         members of the Florida Council for Community

  7         Mental Health or the Florida Council for

  8         Behavioral Healthcare to form a self-insurance

  9         fund; providing requirements of such funds;

10         exempting funds so created from certain

11         requirements otherwise applicable to

12         self-insurance funds; providing an effective

13         date.

14  

15  Be It Enacted by the Legislature of the State of Florida:

16  

17         Section 1.  Section 624.4624, Florida Statutes, is

18  created to read:

19         624.4624  Community mental health and substance abuse

20  treatment self-insurance fund.--

21         (1)  Notwithstanding any other provision of law, any

22  two or more entities that are members of the Florida Council

23  for Community Mental Health or the Florida Council for

24  Behavioral Healthcare may form a self-insurance fund for the

25  purpose of pooling and spreading liabilities of its group

26  members in any property or casualty risk or surety insurance

27  or securing the payment of benefits under chapter 440.

28  However, the fund that is created must:

29         (a)  Have annual normal premiums in excess of $5

30  million;

31  

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CODING: Words stricken are deletions; words underlined are additions.






    Florida Senate - 2005                                  SB 2486
    7-566-05




 1         (b)  Maintain a continuing program of excess insurance

 2  coverage and reserve evaluation to protect the financial

 3  stability of the fund in an amount and manner determined by a

 4  qualified and independent actuary;

 5         (c)  Submit annually an audited fiscal year-end

 6  financial statement by an independent certified public

 7  accountant within 6 months after the end of the fiscal year to

 8  the office; and

 9         (d)  Have a governing body that is comprised entirely

10  of community mental health or substance abuse treatment

11  officials.

12         (2)  A self-insurance fund that meets the requirements

13  of this section is not subject to s. 624.4621 and is not

14  required to file any report with the department under s.

15  440.38(2)(b), which is uniquely required of group self-insurer

16  funds qualified under s. 624.4621. If any of the requirements

17  of this section is not met, the self-insurance fund is subject

18  to the requirements of s. 624.4621.

19         Section 2.  This act shall take effect July 1, 2005.

20  

21            *****************************************

22                          SENATE SUMMARY

23    Authorizes two or more providers of community mental
      health or substance abuse treatment services which are
24    members of the Florida Council for Community Mental
      Health or the Florida Council for Behavioral Healthcare
25    to form self-insurance funds, subject to specified
      conditions. Such funds are exempt from requirements
26    applicable to self-insurance funds generally.

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CODING: Words stricken are deletions; words underlined are additions.