Va. Life, Accident & Sickness Insurance Guaranty Assoc.; assessments for long-term care insurance. (HB1486)

Introduced By

Del. Terry Kilgore (R-Gate City)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Virginia Life, Accident and Sickness Insurance Guaranty Association. Amends the methodology for allocating assessments for long-term care insurance written by an impaired or insolvent insurer. The measure requires that 50 percent of such assessments be allocated to health insurers and 50 percent to life insurers. The measure provides that health maintenance organizations (HMOs) will participate in the Guaranty Association. Provisions that established an alternative method to address insolvencies of HMOs are repealed. The measure also updates terminology and makes conforming amendments based on proposed changes to the National Association of Insurance Commissioners' Life and Health Insurance Guaranty Association model act.


Bill Has Passed


01/18/2018Presented and ordered printed 18104701D
01/18/2018Referred to Committee on Commerce and Labor
01/28/2018Impact statement from SCC (HB1486)
02/08/2018Reported from Commerce and Labor with substitute (12-Y 8-N) (see vote tally)
02/08/2018Committee substitute printed 18106602D-H1
02/10/2018Read first time
02/12/2018Read second time
02/12/2018Committee substitute agreed to 18106602D-H1
02/12/2018Engrossed by House - committee substitute HB1486H1
02/13/2018Read third time and passed House (73-Y 24-N)
02/13/2018VOTE: PASSAGE (73-Y 24-N) (see vote tally)
02/14/2018Impact statement from SCC (HB1486H1)
02/14/2018Constitutional reading dispensed
02/14/2018Referred to Committee on Commerce and Labor
02/26/2018Reported from Commerce and Labor (13-Y 1-N 1-A) (see vote tally)
02/28/2018Constitutional reading dispensed (40-Y 0-N) (see vote tally)
03/01/2018Read third time
03/01/2018Passed Senate (36-Y 4-N) (see vote tally)
03/05/2018Bill text as passed House and Senate (HB1486ER)
03/05/2018Signed by Speaker
03/06/2018Impact statement from SCC (HB1486ER)
03/08/2018Signed by President
03/14/2018Enrolled Bill communicated to Governor on March 14, 2018
03/14/2018G Governor's Action Deadline Midnight, April 9, 2018
03/30/2018G Approved by Governor-Chapter 706 (effective 7/1/18)
03/30/2018G Acts of Assembly Chapter text (CHAP0706)


This bill was discussed on the floor of the General Assembly. Below is all of the video that we have of that discussion, 1 clip in all, totaling 2 minutes.