Establishes multiple-caregiver self-insured risk coverage arrangements for nonprofit and for-profit child care, foster care, and behavioral health providers, sets reporting requirements, and authorizes the insurance commissioner to verify, penalize, and adopt rules for such arrangements.
(New Title) establishing multiple-caregiver self-insured risk coverage arrangements for nonprofit and for-profit providers and servicers.
I support SB 614-FN’s goal of enabling collaborative risk-sharing among child-care and behavioral-health providers, but urge the committee to maintain strong oversight, actuarial standards, and solvency safeguards to ensure these arrangements operate transparently and protect the vulnerable populations they serve. Clear regulatory guardrails are essential whenever entities are exempted from portions of insurance law.
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