Pursuant to KRS 67C.147(3) and 91A.080, there is hereby reenacted a license fee on each health insurance company for the privilege of engaging in the business of insurance within the Urban Service Tax District for the calendar year 2003, and thereafter on a calendar year basis. The license fee imposed shall be 5% of the premiums actually collected within each calendar quarter by reasons of the issuance of such health insurance policies on risks located within the District, less all premiums returned to policy holders. The provisions of this section shall not include premiums received for insuring employers against liability for personal injuries to their employees, or the death of their employees, caused thereby, under the provisions of the Worker's Compensation Act. No license fee imposed under this section shall apply to premiums received on policies of group health insurance provided for state employees under KRS 18A.225; premiums received on health insurance policies issued to individuals; policies issued through Kentucky Access created in KRS 304.17B-005; or premiums received on high deductible health plans as defined in 26 U.S.C. 223 (C)(2).
(Lou. Metro Ord. No. 2-2003, approved 1-23-2003; Lou. Metro Am. Ord. No. 183-2007, approved 9-19-2007)
Cross-references:
Insurance companies: additional regulations, see Ch. 122
Insurance companies: additional regulations, see Ch. 122