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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 | (8/8/24) | New | To address non-compliance with minimum and anticipated loss ratio requirements of 14 VAC 5-130-65, the Department has provided a template to assist insurers in evaluating their open and closed blocks of excepted benefits business to determine corrective actions to come into compliance. |
CO | New | Provides guidance on the STLDI portion of 89 Fed. Reg. 23338-01. Carriers must submit STLDI product forms and rates to the DOI by September 30, 2024. Carriers should display the required Colorado STLDI notice, followed by the federal notice. Carriers should also include the following question in all applications: "Have you or any other person to be insured been covered under two or more nonrenewable short-term policies during the past twelve (12) months? If “YES”, then this policy cannot be issued. You must wait six (6) months from the date of your last such policy to apply for a short-term policy." |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MD | New | The Department has updated the required Reporting Form for Adverse Decisions and Grievances under §15-10A-06 of the Insurance Article. Carriers must now also report on a quarterly basis (1) the number of members entitled to health care benefits under a policy, plan, or certificate issued or delivered in the State by the carrier; and (2) the number of clean claims for reimbursement processed by the carrier. | |
WI | Carrier Email (9/3/24) | New | The Department provided guidance for the Wisconsin Market Regulatory Grievance Report (26-007) based on analysis of 2023 submissions. |
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!