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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
Medicare Supplement
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
OH | New | 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 | |
CA | Movement | Beginning January 1, 2025, introduces 90-day annual open enrollment period beginning on January 1 of each year and deletes exclusion of otherwise qualified applicants who have end stage renal disease, making the specified Medicare supplement benefit plans available to those individuals |
Dental
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
AZ | SERFF Notice | New | In 2023, ARS 20-126 was enacted and requires insurers that issue dental plans in Arizona to provide certain loss ratio data to the Department no later than July 1 of each year, beginning in 2024. The required form, which is required to be filed in SERFF, and updated instructions, are now available in SERFF |
MO | Movement | Requires annual dental loss ratio filing submission by March 1 for the previous calendar year. Provides a formula for calculating minimum dental loss ratios, provides minimum requirements, and requires an annual rebate if loss ratio is less than 85% | |
LA | Movement | Establishes Dental Loss ratio standards and requires carriers to submit a report annually by June 30, starting in 2025 |
Other
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
CA | Movement | Guaranteed health care for all CA citizens | |
IL | Movement | Provides that no company shall issue, deliver, amend, or renew short-term, limited-duration insurance after Jan 1, 2025. Defines short-term, limited duration insurance as having an expiration date fewer than 365 days after the effective date |
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!