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❄️Happy Holidays❄️
We are taking a short holiday break. You can expect the next Insurance Regulatory Insights newsletter on January 7th. We hope you enjoy family, friends, and food this holiday season!
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 |
|---|---|---|---|
ME | New | Reminds insurers that pursuant to Rule Chapter 275, a consumer is eligible for guaranteed issue of any Medicare Supplement plan currently sold in Maine if the consumer is enrolled in a Medicare Advantage plan that ceases to provide benefits in the consumer’s service area. | |
All | CMS Memo (12/3/24) | New | Beginning April 1, 2025, individuals wishing to use the Disaster/Emergency SEP must call 1-800-MEDICARE in order to make an election. MA Organizations and Part D Sponsors will no longer accept elections directly from beneficiaries using the Disaster/Emergency SEP, and will instead receive Disaster/Emergency SEP elections only via download from HPMS. |
All | CMS Memo (12/5/24) | New | CMS will continue monitoring Parts C & D call centers in 2025 for timeliness, accuracy, and accessibility. This memo describes the elements CMS will monitor. Plans must update HPMS with critical 2025 call center information no later than December 20, 2024, including current and prospective enrollee toll-free beneficiary call center telephone numbers, toll-free pharmacy help desk numbers, and current and prospective enrollee toll-free TTY numbers. |
Dental
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MO | New | 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%. |
Short-Term and Excepted Benefits
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MI | Movement | Proposed legislation that excludes Other Fixed Indemnity and Short-Term or 1-time Limited Duration (no longer than 6 months) policies from the requirements of MCL 500.3406ii, which prohibits preexisting condition exclusions. |
All Products
State | Bill/Notice Number | Status | Summary |
|---|---|---|---|
MA | 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!