HB944: SCC; identification of certain provisions regarding employee welfare benefit plans, report.

HOUSE BILL NO. 944

Offered January 12, 2022
Prefiled January 12, 2022
A BILL to direct the State Corporation Commission to identify each state statutory and regulatory provision from which an employee welfare benefit plan that is self-insured or self-funded is exempted.
Patron-- Hodges
Committee Referral Pending

Be it enacted by the General Assembly of Virginia:

1. § 1. The State Corporation Commission (the Commission) shall identify each state statutory and regulatory provision from which an employee welfare benefit plan, as defined in § 3 (1) of the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. § 1002 (1), that is self-insured or self-funded is presently exempted. The Commission shall report to the Chairs of the House Committees on Health, Welfare and Institutions and Labor and Commerce and to the Chairs of the Senate Committees on Education and Health and Commerce and Labor by October 1, 2022, regarding all identified ERISA-exempted statutory and regulatory provisions and any financial impact that would be incurred by the application of the identified statutory and regulatory provisions to ERISA health insurance plans.