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House Bill 3752 |
House Author: Frank et al. |
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Effective: 9-1-21 |
Senate Sponsor: Hancock |
House Bill 3752 amends the Insurance Code to authorize the Texas Mutual Insurance Company (Texas Mutual) to create, acquire, or otherwise own or operate one or more subsidiaries that offer health benefit coverage. Such a subsidiary may offer accident or health insurance or another type of health benefit plan in accordance with a certificate of authority issued to the subsidiary under the Insurance Code, or it may offer alternative health benefit coverage exempted from insurance laws to individuals, small businesses with not more than 250 full‑time equivalent employees, or Texas Mutual policyholders or their employees.
House Bill 3752 sets out certain considerations and guiding principles for developing health benefit coverage offerings under the bill's provisions and requires Texas Mutual to submit a legislative report explaining how any anticipated offerings would comply with all of the considerations and guiding principles. The bill provides for a subsidiary's authority to contract with an outside insurance company for purposes of obtaining coverage or transferring risk.