Newsletter
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 50 years we are always excited to share the latest sampling of insurance compliance related bulletins, regulations, and legislative activity. Please feel free to share this newsletter with others that may be interested. Contact Us with any questions on the items in this newsletter or with any other compliance related matter we can assist you with. Enjoy!
Nebraska published a Q&A bulletin regarding annuity training for producers engaging in the sale of annuity products. Bulletin CB-128 (Amended)
Montana amended its Suitability in Annuity Transactions Act and substantially adopted the NAIC Model. New administrative rules have also been adopted. SB 363
California revised a law to require a health plan or health insurer to accommodate requests for confidential communication of medical information regardless of whether there is a situation involving sensitive services or a situation in which disclosure would endanger the individual. AB 1184
Louisiana amended Regulation 56 dealing with Credit for Reinsurance and accredited reinsurers. LAC 37:XIII.3507
South Carolina's Director of Insurance approved Credit Accident and Health Insurance rates for 2022 sold in conjunction with Consumer Credit Transactions subject to the South Carolina Consumer Protection Code. Order Number 2021-02
Maine passed the Insurance Data Security Act effective on January 1, 2022. The Bureau of Insurance published guidance on how to comply with the standards of the law, including data security, cybersecurity events and notification to the Bureau of those events. Bulletin 462
Wisconsin's Insurance Commissioner reminds licensed carriers, agents and other entities of the Data Security Law and its requirements. The law is effective November 1, 2021, although licensees have until November 1, 2022, to comply with the Information Security Program requirements. Bulletin dated September 30. 2021
Georgia's Insurance Department reminds all insurers and producers of their duty to respond to the Consumer Services Division within 15 business days of the date the Division sends an inquiry via email, fax, or the U.S. mail. Directive 21-EX-4
California requires an individual health care service plan that provides dependent coverage to make coverage available for a qualified dependent parent or stepparent beginning January 1, 2023. An insurer, a plan, or the Health Benefit Exchange must provide a HICAP written notice to an applicant seeking to add a dependent parent or stepparent. AB 570
Louisiana promulgated a regulation that establishes insurance requirements in the event an emergency or a public health emergency is declared. LAC 37:XIII.17901
Maryland's Insurance Administration issued a bulletin providing carriers and health maintenance organizations with guidance regarding filing for an exemption from participation in the Maryland Health Benefit Exchange in 2022. Bulletin 21-25
Massachusetts issued a bulletin providing guidance regarding the open enrollment period for benefit year 2022 of the annual exchange for insured health benefit plans. Bulletin 2021-14
New Hampshire's Insurance Department issued a bulletin to clarify that health insurers selling off-exchange plans in the individual market must allow individuals to purchase health insurance coverage during the annual open enrollment period specified for the federal exchange. That enrollment period runs from November 1, 2021, through January 15, 2022. Insurers may exceed the federal open enrollment period. Bulletin INS 21-097-AB
North Dakota's Insurance Commissioner released the approved health insurance rates for both individual and small group plans for 2022. Press Release dated October 19, 2021
Delaware enacted legislation to require individual and group insurance plans that are issued or renewed on and after December 31, 2021, to provide coverage for a medically necessary insulin pump at no cost to a covered individual. SB 107
Delaware informed carriers that the Governor signed SS 1 for SB 120 which relates to primary care services and achieving affordability standards. Rate filings for health benefit plans cannot include aggregate unit price growth for nonprofessional services that exceed certain amounts for the next 5 years. There are other requirements in the Department's implementation plan. Domestic & Foreign Insurers Bulletin 125
Florida's Informational Memorandum provides guidance to all health insurers and managed care organizations regarding new disclosure requirements for behavioral health care services as required under HB 701. Informational Memorandum OIR-21-01M
New Mexico's Insurance Superintendent issued a bulletin to remind carriers that COVID-19 vaccines, including booster shots, are exempt from cost sharing for enrollees. Prohibited cost sharing includes deductibles, co-insurance, and co-payments. Bulletin 2021-020
New York adopted a rule stating that every health care plan is expected to reimburse a provider offering telehealth services for audio-only visits when medically necessary. 11 NYCRR 52
North Carolina passed the Financial and Insurance Regulatory Sandbox Act. This allows entities that desire to offer innovative products or services that may be currently prohibited by law to participate in a program to offer them to consumers in a test environment. HB 624
Oregon Insurance Department notified carriers that it is not changing the minimum interest rate for deferred annuity contracts from 1% to 0.15% although the Compact uniform standard have. Oregon has not adopted the NAIC Model 805 Standard Nonforfeiture Law. Email notification dated October 12, 2021
Alabama's revisions to the Pharmacy Benefit Manager regulation are effective January 1, 2022. The changes pertain to licensing and renewals of licenses, and subsequent reporting of change information. Regulation 482-1-164-.01
Washington adopted rules to advance collateral reform relating to reinsurance and assist Washington state to maintain a competitive and secure insurance market. WAC 284-13-536
Maryland's Department of Health amended existing regulations governing the submission of healthcare data by reporting entities to the Maryland Health Care Commission. Data collection frequency may be more frequently than quarterly, and other changes were made. COMAR 10.25.06.01 through .18
Alabama adopted the 2022 Version of the Valuation Manual as revised by the NAIC in 2021. Regulation 482-1-1