- Insurance Regulatory Insights
- Posts
- Insurance Regulatory Insights
Welcome back! We hope you enjoyed the Fourth of July!
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
As a bonus this week, we are providing links to current movement in the courts that could have an impact on Medicare products.
Dental
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
RI | Approved | Requires dental health insurance carriers to file an actuarial memorandum disclosing incurred claims/earned premiums by March 1, 2025 (reporting years 2023 & 2024) and March 1, 2026 (reporting year 2025), to assist with a study report/recommendations regarding a dental insurance loss ratio |
STLDI & Fixed Indemnity
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MT | New | Carriers must revise their STLDI products to meet new federal requirements regarding duration limits and notice requirements, including SERFF filings to ensure compliance with federal rule |
Medicare Supplement
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
PA | New | An act amending the act of December 15, 1982 (P.L.1291, No.292), known as the Medicare Supplement Insurance Act, providing for definitions and open enrollment |
Medicare Advantage / Part D
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
All | Contract Year 2025 Agent and Broker Compensation Rates, Referral/Finder’s Fees, and Training and Testing Requirements | New | Provides Contract Year (CY) 2025 compensation and referral/finder’s fee limits for agents and brokers, Plan reporting of agent/broker non-compliance with marketing regulations, and plan guidance on developing agent/broker training and testing |
All | HPMS Memo | New | Announces release of proposed Medicare Advantage and Part D Enrollment and Disenrollment Guidance for industry comment by July 17, 2024 |
🔦In the Courts 🔦
Challenge to CMS's agent/broker compensation and administrative payment regulatory changes
Challenge to federal agencies power to interpret and enforce regulations
Challenge to nondiscrimination in health programs and activities rule (Section 1557 of the Affordable Care Act)
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!