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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 / Fixed Indemnity
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
AL | Revised | Revises the May 30, 2024 bulletin 2024-02. Guides insurers on how to comply with AL form filing requirements related to the Federal disclosure notice. A stand-alone notice will not be accepted and the notice must be embedded in the forms. The department encourages insurers to submit as soon as possible. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
VA | New | Sets forth expectations for how insurers should govern the development, acquisition, and use of AI technologies. Also advises of the type of information and documentation that the Department may request during an investigation or examination regarding an insurer's use of AI Systems | |
MD | New | Effective October 1, 2024, applicants who are required to pass an examination as a qualification for a producer license will no longer be required to complete a program of study that has been established or approved by the Commissioner, nor meet minimum experience requirements prior to taking the examination. |
Medicare Advantage / Part D
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
All | Parts C & D Enrollee Grievances, Organization/Coverage Determinations, and Appeals Guidance | New | Announces the Centers for Medicare and Medicaid Services (CMS)’s publishing an update to the Parts C & D Enrollee Grievance, Organization/Coverage Determination, and Appeals Guidance. The guidance is effective immediately. |
All | Contract Year 2025 Agent and Broker Compensation Rates, Submissions, and Training and Testing Requirements | Updated | Supersedes the June 28, 2024 memorandum, “Contract Year 2025 Agent and Broker Compensation Rates, Referral/Finder’s Fees, and Training and Testing Requirements” due to the stay ordered in U.S. District Court for the Northern District of Texas issued preliminary injunctions in Americans for Beneficiary Choice v. HHS , No. 4:24-cv-00439, and Council for Medicare Choice v. HHS, No. 4:24-cv-00446. |
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!