Rule 69O-191.094, F.A.C., is amended to update the process by which HMOs may change their legal names and register fictitious names. This Rule prevents HMOs from using names to transact insurance that are unknown to the ....

 

DEPARTMENT OF FINANCIAL SERVICES

OIR – Insurance Regulation

RULE NO.:RULE TITLE:

69O-191.094Change of Name

PURPOSE AND EFFECT: Rule 69O-191.094, F.A.C., is amended to update the process by which HMOs may change their legal names and register fictitious names. This Rule prevents HMOs from using names to transact insurance that are unknown to the Secretary of State or the Office.

SUMMARY: Rule 69O-191.094 prohibits HMOs from using any legal name or fictitious name before notifying and receiving approval from the Office. The Rule also lists the documentation required to request an approval of a change of name or to use a fictious name.

SUMMARY OF STATEMENT OF ESTIMATED REGULATORY COSTS AND LEGISLATIVE RATIFICATION:

The Agency has determined that this will not have an adverse impact on small business or likely increase directly or indirectly regulatory costs in excess of $200,000 in the aggregate within one year after the implementation of the rule. A SERC has not been prepared by the Agency.

The Agency has determined that the proposed rule is not expected to require legislative ratification based on the statement of estimated regulatory costs or if no SERC is required, the information expressly relied upon and described herein: Agency personnel familiar with the subject matter of the rule amendment have performed an economic analysis of the rule amendment that shows that the rule amendment is unlikely to have an adverse impact on the State economy in excess of the criteria established in Section 120.541(2)(a), Florida Statutes.

Any person who wishes to provide information regarding a statement of estimated regulatory costs, or provide a proposal for a lower cost regulatory alternative must do so in writing within 21 days of this notice.

RULEMAKING AUTHORITY: 641.36, F.S.

LAW IMPLEMENTED: 641.31(3)(a), 641.33(2), F.S.

IF REQUESTED WITHIN 21 DAYS OF THE DATE OF THIS NOTICE, A HEARING WILL BE SCHEDULED AND ANNOUNCED IN THE FAR.

THE PERSON TO BE CONTACTED REGARDING THE PROPOSED RULE IS: Christopher Wildermuth, Assistant General Counsel, [e-mail], [phone].

 

THE FULL TEXT OF THE PROPOSED RULE IS:

 

69O-191.094 Change of Name.

(1)No name other than that listed on the HMO’s Certificate of Authority or those approved certified by the Office pursuant to subsections (2) and (3) of this rule shall be used by the HMO.

(2)The name of the HMO shall not be changed without prior approval of the Office. The approval process is as follows:

(a)The HMO shall file a request with the Office to change the HMO’s name. The request shall include a plan by which current subscribers and providers will be notified of the name change. This plan shall include a copy of any proposed notice to be sent to subscribers and providers.

(b) Once the Office approves the name change, the HMO shall submit:

1. A Board Resolution from the HMO affirming the decision to change the HMO’s name;

2. Amendments to the Articles of Incorporation certified by the Florida Secretary of State reflecting the new name; and By-Laws of the HMO affirming the name change;

3. Bylaws of the HMO certified by the HMO reflecting the new name; Certification from the Secretary of State Office that the name has been changed, and that the change has been filed with the Secretary of State’s Office;

4. A Florida Certificate of Status reflecting the new name;

5. 4. Documentation showing that the name change has been made on all insurance policies in which covering the HMO is named as an insured; and,

6. 5. Documentation showing that all new subscriber contracts will include the new name of the HMO; and .

7. Forms OIR-C1-0510 and OIR-C1-0511, incorporated by reference in Rule 69O-136.100, F.A.C.

(3) Fictitious names, as defined in Section 865.09, Florida Statutes, shall not be used without prior approval of the Office. The approval process is as follows:

(a) The HMO shall file a request with the Office to use a fictitious name. The request shall include a plan by which affected subscribers and providers will be notified of the use of the fictitious name. This plan shall include a copy of any proposed notice to be sent to subscribers and providers.

(b) Once the Office approves the use of the fictitious name, the HMO shall submit documentation from the Florida Secretary of State evidencing the HMO’s registration of the fictitious name. The HMO may not use any fictitious or d/b/a name unless it receives prior approval by the Office in accordance with subsection (1), above.

Rulemaking Authority 641.36 FS. Law Implemented 641.31(3)(a), 641.33(2) FS. History–New 2-22-88, Formerly 4-31.094, Amended 5-28-92, Formerly 4-191.094. Amended ________.

 

NAME OF PERSON ORIGINATING PROPOSED RULE: Christopher Wildermuth, Assistant General Counsel

NAME OF AGENCY HEAD WHO APPROVED THE PROPOSED RULE: Financial Services Commission

DATE PROPOSED RULE APPROVED BY AGENCY HEAD: June 12, 2024

DATE NOTICE OF PROPOSED RULE DEVELOPMENT PUBLISHED IN FAR: May 15, 2024