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- Insurance Regulatory Insights
🎉🎉Happy New Year!🎉🎉
We hope you had an amazing 2024, and we are looking forward to keeping you informed of regulatory compliance updates in 2025!
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
Movement: bill has progressed in legislative process
Fail: bill has died in committee or failed to pass
Approved: passed by the Legislature and approved by the Governor
Upcoming: approved bill that has an upcoming effective date
Medicare
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
WA | New | Proposed bill seeking to level the playing field between Original Medicare and Medicare Advantage by: 1) eliminating the Original Medicare 20 percent copays and setting an out-of-pocket cap on medical expenses; 2) adding benefits to Original Medicare such as dental, vision, and hearing coverage; 3) eliminating the allowed excessive administrative costs and profits in the Medicare Advantage programs; and 4) recouping funds for the Medicare trust fund from the Medicare Advantage overpayments, fraud, and abuse. | |
OK | New | Reissuance of a September 2023 bulletin. Med Supp issuers are required to offer new policies with the same or lesser benefits without underwriting or pre-existing conditions to current Med Supp policyholders, regardless of the issuer, who have not had a coverage gap greater than 90 days since the last enrollment period of their existing policy. Issuers that provide a 60-day open enrollment period beginning on the policyholder's birthday each year comply. Also, issuers must notify individuals under 65 with disabilities about open enrollment upon reaching 65. | |
All | (12/20/2024) | New | Fact sheet on the 64 Part B drugs with a coinsurance reduction for the quarter January 1, 2025 – March 31, 2025. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
IL | SERFF Notice (1/2/2025) | New | Reminder of required annual report due dates for all carriers subject to and required to submit: |
NC | New | Sets forth expectations for how Insurers should govern the development, acquisition, and use of AI technology. 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. |
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!