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45A.022 Application of chapter to insurance contracts.

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45A.022 Application of chapter to insurance contracts. (1) This chapter shall apply to all insurance contracts purchased by the Commonwealth, except where the commissioner of insurance determines, with the concurrence of <br>the secretary of Finance and Administration Cabinet, that: <br>(a) An emergency exists; <br>(b) Competition is not feasible; or <br>(c) The annual premium is less than ten thousand dollars (&#36;10,000). (2) Notwithstanding subsection (1) of this section, the health insurance contract or contracts for state employees as authorized by KRS 18A.225 shall be subject to the <br>provisions of KRS 45A.080, 45A.085 and 45A.090. Effective: July 15, 2010 <br>History: Amended 2010 Ky. Acts ch. 24, sec. 38, effective July 15, 2010. -- Amended 2001 Ky. Acts ch. 164, sec. 4, effective June 21, 2001. -- Amended 1998 Ky. Acts <br>ch. 82, sec. 13, effective July 15, 1998. -- Amended 1988 Ky. Acts ch. 5, sec. 7, <br>effective July 15, 1988. -- Amended 1984 Ky. Acts ch. 23, sec. 2, effective July 13, <br>1984. -- Created 1982 Ky. Acts ch. 406, sec. 10, effective July 15, 1982. Legislative Research Commission Note (10/19/2004). 2004 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 2, provides, &quot;Notwithstanding KRS 18A.225, 45A.022, 45A.080, <br>45A.085, 45A.090, 45A.225 to 45A.290, or any other provision of KRS Chapter 45A <br>to the contrary, retroactive to August 12, 2004, the Finance and Administration <br>Cabinet shall implement the provisions of this Act by amending the previously <br>negotiated contracts for public employee health insurance. The secretary of the <br>Finance and Administration Cabinet shall provide an actuarial certification that the <br>self-insured contract amounts are actuarially sound. Any contracts entered into or <br>modified pursuant to this section shall be forwarded to the Legislative Research <br>Commission.&quot;