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A
C
A
We
have
a
quorum
ready
to
conduct
business,
have
several
bills,
so
we'll
jump
right
into
it.
Mr
chairman,
I'll,
let
you
come
up
chairman
roland
has
house
bill
307.
If
you
have
any
guests
which
happens
to
be
one
of
my
constituents,
did
you
do
that
on
purpose
I
did.
I
was
hoping
it
would
help.
Okay,
that's
your
only
that's
your
only
hope.
Isn't
it
yeah.
Thank
you.
C
Jd
cheney,
kentucky
league
of
cities,
34th
senate
district.
D
Am
thank
you,
mr
chairman,
members
of
the
committee
house,
bill
307
is
an
initiative
that
was
brought
to
me
by
the
kentucky
league
of
cities.
As
you
know,
kentucky
league
of
cities
is
a
is
a
legislative
and
advocacy
organization
for
cities
and
municipalities
across
kentucky,
but
they
also
operate
a
self-insured
liability
and
workers
compensation
group.
D
They
participated
in
a
benchmarking
initiative
this
summer
and
received
really
high
marks
in
all
categories.
They
were
just
a
little
bit
low
in
the
investment
side,
their
investments
weren't
bad,
but
it
came
to
life
that
they
were
kind
of
handicapped
by
a
decades-old
statute
that
prohibits
them
from
expanding
their
investments.
So
that's
what
house
bill
307.
Does
it's
going
to
allow
group
self-insurance
funds
in
kentucky
to
better,
diversify
and
expand
investment
options
and
hopefully
allow
for
better
returns?
C
Just
add
that
we
worked
with
the
department
did
not
do
this
in
isolation.
We
worked
with
the
department
of
insurance
in
crafting
this
language
for
reasonable,
safe
investments.
So,
hopefully,
next
time
we
do
a
benchmark
process
with
a-grip,
we'll
be
high
on
the
a
little
higher
on
the
investment
side
that
comes
back
to
our
cities
and
counties.
This
also
impacts
counties.
C
A
A
Do
we
have
a
motion
for
consent,
all
those
followers
in
favor
signify,
saying
aye
aye
any
opposed
we're
on
consent.
Thank
you,
mr
look
forward
to
coming
in
before
banking
insurance
in
the
house.
Mr
chairman,
hopefully
we'll
see
you
next
week,
that'd
be
good.
Thank
you,
mr
chairman.
Thank
you,
mr
constituent.
A
C
A
A
The
point
guard
he
just
rebounded
and
threw
it
to
me
house
bill
370
is
our
next
bill
representative
derrick
lewis,
an
act
relating
to
health
care,
trade
practices,
representative
lewis,
good
to
see
you
and
you
have
some
guests
with
you.
If
you
guys
will
introduce
yourself
for
the
record
and
we'll
get
right
into
it,.
E
Absolutely
thank
you
chairman.
Today
we
are
presenting
to
you
house
bill
370,
our
patient
transparency
and
dental
benefits.
Bill
house
bill
370
passed
in
the
house
90
to
zero
worked.
We
worked
with
anthem
and
delta
dental
to
make
changes.
This
language
is
primarily
revolves
around
incoil
language
dealing
with
three
things:
network
leasing,
virtual
cards
and
prior
authorization.
E
The
last
part
of
the
bill
deals
with
clarifying
language
for
existing
statute,
but
real,
quick
I'll
give
you
a
rundown
of
the
bill
network
leasing.
So
insurance
companies
can
sell
lease
dentists,
different
insurance
networks
without
the
dentist's
knowledge
or
consent,
specifically
impacting
the
insurance
benefits
available
to
patients
in
states
that
allow
network
leasing
to
proceed
without
adequate
protections.
The
insurance
network
may
transfer
the
rights
to
a
dentist
contract
to
another
insurance
company
without
seeking
the
dense
knowledge
or
consent.
E
As
a
result,
dentists
may
not
be
able
to
adequately
advise
patients
on
financial
planning
around
dental
services
house
bill
370
would
permit
a
contracting
entity
to
grant
a
third
party
access
to
a
provider
network
contract
or
providers,
dental
services
or
contractual
discounts
provided
in
pursuant
to
a
provider
network
contract.
If
certain
network
requirements
are
met
prior
authorizations,
we
worked
with
anthem
on
many
of
the
changes
here
again.
This
is
off
the
model
act,
but
to
the
typical
patient
and
insurance
authorization
means,
barring
unusual
circumstances.
E
Payment
for
the
services
authorized
prior
to
the
treatment
will
be
made
by
the
benefit
carrier.
Unfortunately,
an
emerging
trend
among
payers
has
been
to
deny
claim
for
a
service
that
was
authorized
by
the
the
benefit
carrier
house.
Bill
370
seeks
to
prohibit
dental
carriers
from
denying
revoking,
limiting,
conditioning
or
otherwise
restricting
pre-approved
dental
care
claims
or
claims
approved
in
prior
authorizations
virtual
credit
cards.
Increasingly,
insurance
carriers
are
requiring
providers
to
accept
payment
through
a
virtual
credit
card,
which
includes
a
per
transaction
fee
as
high
as
five
percent.
A
We
have
a
motion
in
a
second.
Do
your
guests
want
to
say
anything?
Do
they
have
any
comments
they
want
to
make
if
we're
good?
Mr
chairman,.
C
Gerdler
dennis
when
you,
when
you
leave
here,
dr
dennist,
don't
leave
and
I'll.
Have
you
look
at
some
a
couple
of
times:
it'll
be
an
honor.
A
A
A
Appreciate
you
house,
bill
380
is
our
next
bill?
Mr
chairman,
come
back
to
the
table
an
act
relating
to
insurance
and
trade
practices.
You
probably
know
a
little
something
about
this.
I
would
assume
mr
chairman
so
looks
like
you.
Don't
need
any
guests
on
this.
One.
D
Heard
a
little
bit
about
it,
chris
nolan's
in
the
room,
if
there
are
any
questions,
sounds
good.
Go
ahead!
All
right!
Thank
you,
mr
chairman
house,
bill
380
is
a
is
a
is
a
end.
Coil
model
bill
to
modernize
kentucky's,
decades-old
insurance,
rebating
laws.
There
are
two
primary
areas
of
this
legislation.
The
first
applies
to
the
insurance
carriers
and
would
allow
our
rebating
laws
to
keep
pace
with
recent
product
innovations.
D
As
many
of
you
all
know,
insurance
carriers
are
providing
devices
like
telematics,
they're,
also
providing
loss,
detection
services
that
can
go
on
your
water
heater,
so
you
know
about
a
leak
before
it
happens.
They
just
want
to
be
these
products,
cost
money,
and
so
the
insurance
companies
just
want
to
be
sure
they're
not
running
afoul
of
the
rebating
law
when
they're
giving
those
to
a
customer
who's
paying
premium.
The
second
part
of
the
of
the
bill
updates
the
two
decade
old
gift
limit,
and
it
raises
that
from
25
dollars
to
250
dollars.
A
A
D
A
Our
next
bill
is
house
bill.
474.,
we
have
a
new
member,
mr
sarge
representative.
We
appreciate
you
being
here
relating
to
entrance
data
security.
If
you
have
any
guests,
I
know
I
think,
there's
a
committee
sub
if
I'm
not
mistaken,
motion
in
a
second
on
the
sub,
all
those
in
favor
signify
by
saying
aye,
the
the
sub
is
adopted.
Thank
you,
sir.
I
do
not
want
to
identify
yourself
just
for
the
record
I'll
cut
you
off.
I'm
sorry,
no.
F
Michael
sarge,
pollock
district,
51,
representative
taylor,
adair
and
marion
now
I
do
have
on
the
zoom
call,
commissioner
of
insurance.
Sharon
clark
is
with
us
as
well,
and
so
thank
you,
mr
chairman,
members
of
the
committee
house,
bill
474
is
a
data
security
bill.
F
F
We
have
worked
with
all
the
stakeholders
and
the
insurance
companies
to
make
sure
their
concerns
are
addressed
in
this
bill
and
everyone
has
signed
off
on
its
content
on
the
subcommittee.
Here's
the
two
primary
things
that's
addressed
in
that
subcommittee,
and
that
is
in
section
nine.
It
clarifies
the
hipaa
exemption
and
the
gram
leads
bali
exemption
for
health
care
entities
and
banks
that
are
already
complying
with
these
federal
laws
and
then
the
other.
A
Have
a
motion
in
a
second,
we
appreciate
your
work
and
I
knew
that
there
were
some
things
that
needed
to
be
cleared
up
here.
Had
some
of
the
banking
associations
had
called
me
and
a
few
of
the
insurance
groups
and
so
appreciate
working
on
that
motion
in
a
second
on
the
bill
with
adopted
by
the
committee
sub
after
secretary.
Please
call
the
roll.
A
And
doing
a
good
job.
Thank
you.
We're
moving
right
along
here.
The
last
bill.
We're
going
to
do
is
senate
bill
298.
Commissioner
vice
is
here.
This
is
actually
my
bill,
but
I'll.
Let
commissioner
vice
come
to
the
table
to
explain
it
and
I
won't
drag
it
out
too
long
at
all,
and
he
can
answer
questions
if
you
have
it,
commissioner,
just
introduce
yourself
for
the
record
always
good
to
see
you
good.
G
Hello,
goodness
got
a
frog
in
my
throat,
hello.
My
name
is
charles
vice,
I'm
the
commissioner
for
the
department
of
financial
institutions.
Here
in
kentucky.
I
want
to
thank
chair
carpenter
and
the
members
of
the
bni
for
considering
298
today,
which
is
an
act
relating
to
persons
regulated
under
the
securities
act
of
kentucky.
G
I
also
want
to
thank
chair
carpenter
for
sponsoring
the
bill.
The
securities
industry
is
important
to
kentucky's
economy
and
for
capital
formation
within
the
state.
Currently
there
are
160
state
registered
investment
advisors
in
kentucky,
and
these
advisors
oversee
3
billion
in
assets
under
management.
G
G
The
bill
would
require
investment
advisors
in
kentucky
to
establish
written
procedures
relating
to
business
continuity,
written
security
and
cyber
security
policies
and
procedures
and
finally,
senate
bill.
298
would
create
a
new
section
under
krs
chapter
292,
to
establish
continuing
education
requirements
for
investment
advisor
representatives
in
kentucky
so
I'll.
Each
address
each
one
of
those
areas.
G
Nasa
subsequently
developed
a
model
rule
to
require
all
states
registered
investment
advisors
to
do
the
same.
The
objective,
the
objective
of
establishing
a
business
continuity
plan
is
to
hold
the
firm
to
their
fiduciary
obligations
and
to
minimize
any
potential
harm
to
clients
due
to
severe
interruptions,
service
interruptions
relative
to
physical
security
and
cyber
security.
G
G
Finally,
the
continuing
education
requirement,
in
addition
to
the
160
that
I
mentioned
earlier,
in
addition
to
that
kentucky,
has
approximately
6
300
investment
advisors
representative
registered
in
kentucky
investment
advisor
representatives
are
tested
for
their
knowledge
before
they
are
registered,
but
there
is
no
mechanism
currently
to
ensure
that
they
maintain
or
expand
their
level
of
knowledge
or
competence.
By
comparison,
most
most
other
financial
professionals
are
subject
to
continuing
education
requirements,
including
broker
dealer
agents,
insurance
agents,
certified
financial
planners
and
real
estate
agents.
G
Nasa
received
significant
support
from
state
regulators
and
the
securities
industry
industry
for
the
creation
of
a
ce
program.
The
focus
of
the
continuing
education
program
will
be
to
promote
regulatory
compliance,
while
also
helping
investment
advisor
representatives
better
serve
their
clients
by
remaining
knowledgeable
of
current
regulatory
requirements
and
best
practices.
G
A
A
A
A
That's
the
good
part
about
being
chairman,
see
how
quick
that
was.
No,
I
don't
think,
there's
anything
else,
but
we're
getting
down
to
the
last
few
days
of
session,
so
it
gets
kind
of
crazy.
So
I'm
sure
we
may
have
a
as
a
my
former
chairman,
my
buddy
tom
buford
would
do
a
special
called
meeting
in
the
back
corner
somewhere,
but
we
have
a
few
more
weeks
till
we
have
to
get
to
that
point.
So,
with.