The 6th meeting of the Interim Joint Committee on Banking and Insurance was held on Tuesday, November 25, 2003, at 10:00 AM, in Room 149 of the Capitol Annex. Representative James Bruce, Chair, called the meeting to order, and the secretary called the roll.
Present were:
Members: Senator Tom Buford, Co-Chair; Representative James Bruce, Co-Chair; Senators Lindy Casebier, Julie Denton, Ernie Harris, Daniel Mongiardo, R.J. Palmer II, Albert Robinson, Larry Saunders, and Tim Shaughnessy; Representatives John Adams, Paul Bather, Sheldon Baugh, James Comer, Brian Crall, Ron Crimm, Robert Damron, Mike Denham, Ted "Teddy" Edmonds, Joseph Fischer, James Gooch, J. R. Gray, Dennis Horlander, Frank Rasche, Brandon Smith, Roger Thomas, Ken Upchurch, and Susan Westrom.
Guests: Janie Miller, Commissioner, Department of Insurance.
LRC Staff: Greg Freedman, Rhonda Franklin, and Jamie Griffin.
Commissioner Janie Miller addressed the committee regarding the proposed legislative package for the 2004 Regular Session. She stated that the proposed legislation package includes codification of National Accounting Practices and Procedures and the Interstate Compact for Product Regulation. Commissioner Miller gave a brief summary of both categories.
Representative Roger Thomas asked if Congressional approval is necessary for the Interstate Compact. Commissioner Miller stated no.
Senator Tom Buford asked Commissioner Miller to give the committee a brief update on Reciprocal of America and the Kentucky Hospital Association. Commissioner Miller stated that the parties are still debating pre-1997 claims and policy holder status. She stated that the central issue is policy holder status.
The committee was given copies of the Mental Health Parity Report for 2002. The report included information regarding the impact of mental health parity on insurance premium rates, a comparison between mental health costs and total health care costs, and complaints relating to mental health services.
With no further business, the meeting adjourned.