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| Sec. 7. Study of reinsurance. The Comprehensive Health Insurance Risk | | Pool Association established pursuant to the Maine Revised | | Statutes, Title 24-A, section 3904 shall conduct a study of the | | possibility of offering a reinsurance pool for the small group | | medical insurance market in order to spread the cost of high-risk | | individuals for the small group medical insurance market. The | | study must address the costs, potential funding mechanisms and | | effectiveness of a reinsurance pool. The association may address | | any other issues regarding a reinsurance pool that it determines | | are relevant in the study. The association shall submit its report | | to the joint standing committee of the Legislature having | | jurisdiction over health insurance matters by March 1, 2008. |
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| | | Sec. 8. Application for funds. The Superintendent of Insurance shall | | apply for all available federal funds for the purpose of | | operating a high-risk health insurance pool. |
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| | | Sec. 9. Effective date. Those sections of this Act that repeal the | | Maine Revised Statutes, Title 24-A, section 2736-C, subsection 3, | | paragraphs A and C and amend Title 24-A, section 2848, subsection | | 1-B, paragraph A and section 2849-B, subsection 2, paragraph A | | take effect January 1, 2008. |
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| | | This bill requires the Department of Professional and | | Financial Regulation, Bureau of Insurance to apply for federal | | funds that Congress is offering states to create high-risk | | insurance pools. It repeals the requirement of guaranteed issue | | for individual health insurance and enacts the Comprehensive | | Health Insurance Risk Pool Association Act. The bill also | | creates a study of a reinsurance pool for the small group market. |
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