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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
👀 We are anxiously waiting for the 2025 Medicare Parts A & B premium, copay and deductible amounts to be released. We’ll keep you updated!👀
Fixed Indemnity
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
VA | SERFF Notice 10/21/2024 | New | Update to previous guidance sent 9/26/24 removing the requirement that “carriers must resubmit previously filed and/or approved forms to include the required federal notice or file new forms.” • Instead of filing a revised policy, certificate, application or enrollment form, carriers may opt to file for approval a form that consists of (i) the new federal disclosure language and (ii) the company name and address and logo if used elsewhere in the form. • This form must have a separate form number and be approved for use as the first page of the policy, certificate, application or enrollment form. • Filing descriptions will indicate that this form will be placed in front of the previously approved policy, certificate, application or enrollment form. • The policy, certificate, application or enrollment form should be filed under Supporting Documentation and not submitted for approval if no changes are made to the form other than the use of this additional first page. • If a carrier wants to use this form with multiple previously approved forms, they may provide a list of those form numbers with associated SERFF tracking number in a single SERFF filing. |
STLDI
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
AR | New | Arkansas Insurance Department reaffirms its interpretation of the Healthcare Payor Identification Card Act, as stated in Bulletin 6-2019, with the only difference being the addition of "short term, limited duration insurance" plans to the types of plans required to be disclosed on a healthcare plan identification card. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
NM | 10/23/2024 | New | In response to the devastating severe flooding impacting Chavez County, the New Mexico Office of Superintendent of Insurance (OSI) issued an emergency order that requires health insurers to provide grace periods for premium payments, refill prescriptions early, cover out-of-network services, waive patient cost-sharing and prior authorizations, and cover replacements of essential medical supplies and equipment that were left behind due to evacuations. |
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!