Texas SB264 discontinues group self-insurance coverage and dissolves the Texas self-insurance group guaranty fund and trust fund under the Texas.

Texas SB264 prohibits the commissioner from issuing new certificates of approval for group self-insurance coverage after September 1, 2025. The bill mandates the board of directors of the Texas self-insurance group guaranty fund to submit a revised plan of operation to the commissioner for approval. This plan must detail steps for distributing remaining funds to qualified groups and notifying interested parties, along with an estimated timeline for the wind down. The commissioner must approve the plan if it sufficiently describes the actions for dissolving the guaranty fund and trust fund.

Texas SB264 discontinues group self-insurance coverage and dissolves the Texas self-insurance group guaranty fund and trust fund under the Texas.

Texas SB264 prohibits the commissioner from issuing new certificates of approval for group self-insurance coverage after September 1, 2025. The bill mandates the board of directors of the Texas self-insurance group guaranty fund to submit a revised plan of operation to the commissioner for approval. This plan must detail steps for distributing remaining funds to qualified groups and notifying interested parties, along with an estimated timeline for the wind down. The commissioner must approve the plan if it sufficiently describes the actions for dissolving the guaranty fund and trust fund.