SB5808 mandates nonprofit health carriers to report surplus and pay a percentage into the state health care affordability account.

SB5808 requires nonprofit health carriers to submit surplus reports to the commissioner by July 1, 2026, and annually thereafter. The commissioner must determine if the surplus is excessive and, if so, the carrier must pay three percent of the excessive surplus into the state health care affordability account by October 1, 2026, and annually thereafter. The carrier can request a hearing to reduce the payment if it presents clear and compelling evidence of financial impairment. The act takes effect January 1, 2026.

SB5808 mandates nonprofit health carriers to report surplus and pay a percentage into the state health care affordability account.

SB5808 requires nonprofit health carriers to submit surplus reports to the commissioner by July 1, 2026, and annually thereafter. The commissioner must determine if the surplus is excessive and, if so, the carrier must pay three percent of the excessive surplus into the state health care affordability account by October 1, 2026, and annually thereafter. The carrier can request a hearing to reduce the payment if it presents clear and compelling evidence of financial impairment. The act takes effect January 1, 2026.