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- Insurance Regulatory Insights
Telos Actuarial brings you this week’s legislative and regulatory insurance insights from around the nation.
Bill “Status” is defined in the tables below by:
New: proposed law recently introduced for consideration by Legislature
Approved: passed by the Legislature and approved by the Governor
Movement: bill has progressed in legislative process
Fail: bill has died in committee or failed to pass
Medicare Supplement
👀On September 25, 2024, the NAIC sent a formal letter to the Office of Civil Rights, U.S. Department of Health and Human Services, regarding Section 1557 of the ACA and the application of Non-Discrimination Rules to Medigap. NAIC is requesting further enforcement guidance including answers to the following:
Role of state regulators in enforcement
Need for review and approval of rates and plans by states prior to use
Applicability to Medicare Supplement (age rating, age or disease coverage restrictions, etc)
Preemption of state laws
Applicability to STLDI and Excepted Benefit plans
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MN | Approved | Changes the effective date of the 2023 Omnibus Bill, chapter 57, Article 2, Sections 7-15 (SF 2744), which introduces an OE period, prohibits pre-existing condition limitations, and adds a guaranteed issue situation, from 8/1/2025 to 8/1/2026. |
Medicare Advantage / Part D
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
CMS | (dated 10/2/2024) | Final Guidance | CMS' final guidance for the second cycle of the Medicare Drug Price Negotiation Program and manufacturer effectuation of the maximum fair price for 2026 and 2027 for the implementation of the Inflation Reduction Act. The draft guidance was issued in May. For a summary of the changes from draft to final guidance, check out the CMS Fact Sheet. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
DE | New | Reminds all admitted and approved domestic and foreign insurance companies, including foreign risk retention groups, risk purchasing groups, accredited reinsurers, and surplus lines brokers, of Delaware’s statutory requirements for paying premium taxes. |
Telos Actuarial’s team of experienced regulatory compliance professionals are ready to help YOU stay informed of legislative and regulatory changes. Reach out to us for more information!