Thursday, July 01, 2010
On Monday, June 21st, Governor Sean Parnell signed into law two bills sponsored by Senator Coghill: HB 168 the Trauma Care Fund and HB 101 Exemptions for Life Insurance and Annuity Contracts. Linda and Eric Hulbert joined Senator Coghill at the signing. Linda brought the idea for the legislation to Senator Coghill and was instrumental in getting the legislation passed.
Senator Cogill put forth the trauma care bill to enhance the chances of patient survival after a traumatic injury. A critical factor for patient survival is to have access to the most appropriate medical facility in the most efficient and timely manner. HB 168 helps ensure that optimal care and treatment can be delivered to patients by reimbursing certain medical facilities that improve their trauma treatment designation for unreimbursed and underreimbursed services. Dr. Regina Chenault and Dr. Frank Sacco worked with Senator Coghill for several years to get this legislation passed.
The second bill, HB 101, exempts up to $500,000 of life insurance and annuity contracts from levy or garnishment to satisfy an unsecured debt. Before the bill was enacted, life insurance and annuities could be garnished for unsecure debt leaving surviving family members with little or no money as a retirement source. Life insurance and annuity contracts are supplemental sources of retirement to people who have only social security or small pensions and small business owners.
HB 101 encourages personal responsibility and protects the future of Alaskan families.