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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
STLDI & Excepted Benefits
For your reference, here is a link to the Departments of Health and Human Services, Labor, and Treasury final rules regarding STLDI and Independent, Non-coordinated Excepted Benefits Coverage, published April 3, 2024.
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
VA | New | Guidance for wellness benefits in excepted benefits policies effective July 1, 2025; Supersedes previous guidance provided by the Department | |
AL | New | Effective immediately, previously filed STLDI, HI, or other fixed indemnity insurance policies must be resubmitted for rates and forms review and approval, to include the Departments of Health and Human Services, Labor, and Treasury final rules disclosure notice on the contract, certificate, and application with new form numbers | |
IA | New | All carriers offering STLDI or fixed indemnity plans are expected to make all necessary changes to comply with the required federal changes. This should include, amending current plans, applications, and other materials to include the new notice requirements (effective 9/1/24 STLDI, 1/1/25 FI) and to limit the duration of any newly issued STLDI plans that will be effective on or after 9/1/24 | |
KS | SERFF Notice (5/31/24) | New | K.S.A. 40-2,193 will be preempted by the Departments of Health and Human Services (HHS), Labor, and the Treasury final rules regarding STLDI, after September 1, 2024. Carriers should update existing forms for compliance with the changes outlined above |
IL |
(Language previously included in and removed from HB5395) | Movement | Provides that, on and after January 1, 2025, no company shall issue, deliver, amend, or renew STLDI to any natural or legal person that is a resident or domiciled in the State; Defines STLDI as having an expiration date fewer than 365 days after the effective date |
Medicare Supplement
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
SD | Approved | Updates the Division's Medicare Supplement Administrative Rule to incorporate 2024 Medicare Supplement coverage amounts set by the federal government | |
NJ |
(Revises Bulletin 24-03) | New | 65+ market- requires carriers to provide a six-month guaranteed issue period to individuals who lost NJ FamilyCare coverage commencing from the date of Medicaid termination, or from the date of this bulletin, whichever occurs later
50-64 market -carriers are advised that a guaranteed issue period is to be provided if the individual lost NJ FamilyCare coverage during the unwinding period of March 31, 2023 to November 30, 2024
Carriers should inform consumers who applied and applications were denied that they may reapply for coverage |
OH | Movement | Amends section 3923.332 to prohibit the Superintendent of Insurance from prohibiting print, in-person, and telephonic/electronic solicitations for Medicare Supplement policies, with the exception of in-person solicitation at nursing homes or residential care facilities |
Dental
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
LA | Approved | Effective 1/1/25; Establishes dental loss ratio standards and requires carriers to submit a report March 1, 2025, and annually thereafter, no later than June thirtieth of each calendar year |
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!