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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
Excepted Benefits
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
VA | SERFF Notice (9/26/24) | New | Provides guidelines for hospital indemnity or other fixed indemnity coverage to comply with new Federal rules that were effective June 17, 2024 (45 CFR 148.220). Individual Market- Notice required on first page of policy/certificate, marketing, application, and enrollment or reenrollment materials. Disclosure requirements of 14 VAC 5-141-30 A and 14 VAC 5-141-120 B 6 are waived. Employer Group - Notice required on first page of application, enrollment/reenrollment forms, and marketing materials. The notice required by 14 VAC 5-141-30 A must continue to appear on the face of employer group policies and certificates. Association Groups - Coverage provided to associations but not related to employment is considered coverage in the individual market. Filing - Carriers must resubmit previously filed and/or approved forms to include the required federal notice or file new forms, including certificates offered to a Virginia resident with the policy having been issued outside of Virginia. |
CO | Draft (accepting comments until 10/2) | Draft bulletin providing guidance concerning the Implementation of 89 Fed. Reg FR23338-01 for Independent, Non-coordinated Excepted Benefits Coverage in Colorado. Comments are being accepted until 10/2. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
TN | New | Addresses Executive Order No. 105 pertaining to severe weather and flooding affecting the state. Requests that cancellations or non-renewals of policies for the non-payment of premium be suspended for a period of at least sixty (60) days from the date of the loss of those policyholders who have suffered property damage, injuries, or loss of life because of the catastrophic events. Also requests for exceptions to proof-of-loss deadlines, notice, and other contract requirements. | |
FL | New | Executive order protecting policyholders impacted by Hurricane Helene. Extends grace periods and prohibits cancellation or nonrenewal of a policy in an impacted area until November 26, 2026. |
Medicare Advantage / Part D
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
CMS | Final Rule | Corrects technical and typographical errors in the final rule that was effective June 3, 2024, titled “Medicare Program; Changes to the Medicare Advantage and the Medicare Prescription Drug Benefit Program for Contract Year 2024—Remaining Provisions and Contract Year 2025 Policy and Technical Changes to the Medicare Advantage Program, Medicare Prescription Drug Benefit Program, Medicare Cost Plan Program, and Programs of All-Inclusive Care for the Elderly (PACE).” |
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!