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Property Casualty News September 2021
Property & Casualty News
September 2021
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!
ADJUSTERS
Maryland's Insurance Commissioner reminds all property and casualty insurers, producers and the Joint Insurance Association that insurers are responsible for the actions of independent adjusters, CAT adjusters and other vendors they retain or employ to handle any portion of their policyholders' claims. All individuals must adhere to the Unfair Claims Settlement Practices Act. All similarly situated homeowners must receive equal treatment. Bulletin 21-20
Rhode Island's Superintendent of Insurance issued a bulletin regarding emergency adjuster notification. Insurers that wish to activate emergency adjusters or appraisers are directed to follow the guidance in the most recent amendment to Insurance Bulletin 2005-154. Industry Alert 2021-1 (Amended)
AGENT / PRODUCER LICENSING AND APPOINTMENT
New Hampshire issued a bulletin to remind insurers that all producers acting as their agents must be appointed by the insurer. The Department may assess $2,500 penalties if insurers and producers are not in compliance. Bulletin No. INS 21-051-AB of August 6, 2021
Wyoming Insurance Department reminds resident and non-resident insurance producer firms and surplus lines brokerages of the responsibilities of a Designated Responsible Licensed Producer. Every organization with a business entity insurance license must designate one to five individuals who are responsible for compliance with insurance laws and regulations. Memorandum dated 09--01-2021
CANCELLATION / NON-RENEWAL / PREMIUM OR COVERAGE CHANGES
California's Insurance Commissioner issued a bulletin to all admitted and non-admitted insurers writing residential property insurance in California. Insurers are informed there is a mandatory moratorium for one year on cancellations and non-renewals of policies of residential property insurance after the declaration of a state of emergency due to wildfires on July 16, 2021 for property located in any zip code within or adjacent to the fire perimeter and shown in the bulletin. Bulletin 2021-04
DISASTER / CATASTROPHIC EVENT
Delaware informed insurers, producers and underwriters of the rescission of COVID-19 related bulletins and continuation of certain relevant provisions. Universally Applicable Bulletin 6
Louisiana's Insurance Commissioner issued a bulletin requesting insurers to voluntarily pay claims for prohibited use even if parishes did not issue a formal mandatory evacuation order in the 25 parishes listed in Emergency Rule 47. Bulletin 2021-07
Louisiana's Insurance Commissioner issued a directive to all authorized insurers and surplus line insurers doing business in California. Insurers are directed to pay loss of use claims and expenses incurred due to Hurricane Ida where civil authorities may or may not have had sufficient time to issue evacuation orders in 25 parishes. Directive 218
DISCRIMINATION
Texas passed a law that applies to any legal entity engaged in the business of insurance, including agents, brokers, adjusters, carriers, and surplus line carriers. This law prohibits an insurance entity from refusing or continuing to insure, limit the amount, extent or kind of coverage, or charge a different rate because of the individual's political affiliation or expression. HB 3433
FLOOD INSURANCE / NFIP
Maryland's Insurance Commissioner notified all resident Property & Casualty Producers that FEMA and the National Flood Insurance Program is implementing an updated method for flood insurance policy rating. The new program is called Risk Rating 2.0 and it begins with new policies effective October 1, 2021 and thereafter. Bulletin 21-23
MISCELLANEOUS
Florida requires that all sales telephone calls, text messages, and direct-to-voicemail transmissions have the consumer's prior express written consent if the call will be made using an automated machine to dial the recipient's phone number or will play a recorded message. The amended Florida Telemarketing Act sets forth other compliance requirements. SB 1120
Illinois amended its Business Corporation Act to require a publicly held domestic or foreign corporation with its principal executive office in Illinois to disclose the self-identified sexual orientation and gender identity of each member of its board of directors. SB 1730
PROFESSIONAL LIABILITY INSURANCE
Florida updated its procedural rules applicable to medical malpractice arbitration. FAC Rule 60Q-3.001
REPORTS - DATA CALLS & OTHER REPORTS
New Mexico issued a data call for insurers writing homeowners insurance in New Mexico. The data call relates to market trends to allow the Department to gain a better understanding of current trends and find a solution to the challenges some homeowners are facing. The information must be submitted by October 1, 2021. Bulletin 2021-018
Texas Insurance Commissioner issued a mandatory data call requesting information on "disallowed expenses" due by October 15, 2021. This data call applies to several lines including private passenger and commercial automobile, homeowners and commercial multiple peril, inland marine, medical malpractice, general liability, and others. Bulletin B-0026-21
TRADE PRACTICES
New Hampshire excludes from being a rebate the payment or assignment of all or part of a producer's commission on the sale of insurance to an employee of the producer. HB 518
WORKERS' COMPENSATION
Florida's Division of Workers' Compensation amended the rule dealing with utilization and resolution of medical reimbursement disputes. The new form to use for Petition for Resolution of Reimbursement Dispute can be found on the department's website. FAC Rule 69L-31.003
Florida's Office of Insurance Regulation announced that it has received the 2022 workers' compensation rate filing by the NCCI. The new rates would become effective January 1, 2022 and propose an average premium decrease of 4.9%. Notice dated August 30, 2021
Nevada's Division of Insurance announced the use of a new Form C-4A or release of Medical and Other Information. Notice dated August 17, 2021
North Carolina's Commissioner of Insurance informed members of the Industrial Commission Workers' Compensation Group that a Residual Market Rate Filing was made to become effective April 1, 2022. The filing proposes an average increase of 4.9% in overall premium level. WC Circular Letter C-21-15
Oregon's Workers' Compensation Division issued a bulletin advising workers' compensation insurers and self-insured employers on how to apply employer-reimbursed medical service costs for individual claims. This bulletin also provides updated maximum reimbursement amounts for calendar year 2022. WC Bulletin 345 (2nd Revision)
Rhode Island's Division of Workers' Compensation announced a maximum total disability weekly compensation rate increase for injuries occurring on and after October 1, 2021. Informational Letter dated September 1, 2021
The Texas Insurance Commissioner notified Texas Workers' Compensation system participants of new laws. SB 22 creates a rebuttable presumption that COVID-19 injury or death is work-related for first responders. This includes detention, custodial and peace officers, firefighters and emergency medical technicians. Special claim submission requirements are included. Other applicable laws are summarized. Bulletin B-0023-21
Wisconsin's Compensation Rating Bureau announced that the Insurance Department has approved an overall rate decrease of 5.44%. The rates and rating values are effective for new and renewal polices effective October 1, 2021 and after. Circular Letter 3233 dated July 20, 2021
Newsletter
Life and Health News September 2021
Life and Health News
September 2021
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!
AGENT / PRODUCER LICENSING AND APPOINTMENT
New Hampshire issued a bulletin to remind insurers that all producers acting as their agents must be appointed by the insurer. The Department may assess $2,500 penalties beginning in September 2021 if insurers and producers are not in compliance. Bulletin Docket No. INS 21-051-AB
ANNUITY DISCLOSURES
Connecticut amended its annuity regulation to adopt the most recent version of the NAIC model regulation requiring producers to act in the best interest of the consumer when making an annuity recommendation. RCSA 38a-432a-1
CONFIDENTIALITY / PRIVACY
Colorado passed a comprehensive consumer privacy law. This law allows consumers to opt out of the processing of their personal data, access, correct or delete the data or obtain a portable copy of their data. Opt-in consent is required for the processing of sensitive personal information such as genetic or biometric data, religion, or ethnic origin used to uniquely identify an individual. SB 21-190
CREDIT FOR REINSURANCE
Delaware revised provisions relating to credit for reinsurance. HB 44
CYBERSECURITY
Michigan's Director of Insurance issued a bulletin summarizing certain Insurance Data Security requirements under Public Act 690. It also includes the form for licensees to use in reporting a cybersecurity event to the Director. Bulletin 2021-32-INS
North Dakota's Insurance Commissioner informs insurance companies and producers of the requirements of the Insurance Data and Security law passed as SB 2075. The bulletin includes to whom the law applies, staggered effective dates for implementation, and information on reporting cybersecurity events. Bulletin 2021-4
DENTAL INSURANCE
Illinois passed the Uniform Electronic Transactions in Dental Care Billing Act. This law requires all dental plan carriers and dental care providers to exchange claims and eligibility electronically using the standard electronic data interchange transactions. SB 493
DISASTER / CATASTROPHIC EVENT
Delaware informed insurers, producers, and underwriters of the rescission of COVID-19 related bulletins and continuation of certain relevant provisions. Universally Applicable Bulletin No. 6
DRUG / PRESCRIPTION COVERAGE
Illinois amended the Managed Care Reform and Patient Rights Act to require individual health plans to provide coverage for prescription drugs in at least 10% of each service area that apply a flat-dollar copayment structure to the entire drug benefit beginning January 1, 2023. This law also applies to group health plans with slightly different requirements. The law changes again in 2024. HB 1745
HEALTH INSURANCE - COMPREHENSIVE
The Federal Department of Labor, Health & Human Services, and IRS issued FAQs about the Affordable Care Act and Consolidated Appropriations Act, 2021 Implementation Part 49. These FAQs cover several areas including: 1) Machine Readable Files for in-network rates, out-of-network allowed amounts and billed charges; 2) Price Comparison Tools; 3) ID Cards; 4) Good Faith Estimates and Advanced EOBs; 5) Provider Directories; 6) Balanced Billing Protection Disclosures; 7) Gag Clauses; 8) Pharmacy Benefits and Drug Costs Reporting; and 9) Continuity of Care. Many requirements have delayed compliance dates and good faith efforts to comply. FAQs dated August 20, 2021
Illinois amended its Network Adequacy and Transparency Act. Standards for access to treatment for mental, emotional, nervous or substance use disorders or conditions must satisfy specified minimum requirements. SB 471
Illinois enacted legislation requiring individual and group health insurance or a managed care plan to provide coverage for medically necessary pancreatic cancer screening. SB 968
LIFE INSURANCE / LIFE CONTRACTS
Illinois prohibits certain life insurance underwriting practices if a person participated in a substance use treatment or recovery support program no less than 5 years before applying for insurance, or a person has been prescribed or obtained an opioid antagonist through a standing order. HB 33
MISCELLANEOUS
California notified insurance carriers seeking an expedited review of a corporate application by year-end that they must submit the application by September 17, 2021. A Holding Company application must be submitted by October 15, 2021. An Application for Certificate of Authority or an Organizational Permit are not eligible for year-end completion. Notice dated 8/13/2021
Florida requires all sales telephone calls, text messages, and direct-to-voicemail transmissions to have the consumer's prior express written consent if the call will be made using an automated machine to dial the recipient's phone number or will play a recorded message. The amended Florida Telemarketing Act sets forth other compliance requirements. SB 1120
Illinois amended its Business Corporation Act to require a publicly held domestic or foreign corporation with its principal executive office in Illinois to disclose the self-identified sexual orientation and gender identity of each member of its board of directors. SB 1730
Louisiana repealed its Life Policy Search Law as of July 1, 2021. As a result, Louisiana is requesting carriers and other risk bearing entities to provide certain carrier contact information to the department. Any changes to information must be updated within 30 days of the change. An annual certification is required. Bulletin 2018-02 (Revised and Reissued)
Maine's Superintendent of Insurance published a bulletin concerning services provided through telehealth. Bulletin 459
Nebraska's Insurance Department has moved its offices twice in the last three years. Every carrier is instructed to update all forms with the correct address. For some claim denials, an insurer is required to give the department's address. A product filed with the old address does not need to be refiled in SERFF. Notice dated July 28, 2021
NONFORFEITURE
Delaware amended the minimum Annuity Nonforfeiture interest rate from 1% to 0.15% for individual deferred annuities. HB 3
TRADE PRACTICES
New Hampshire excludes from being a rebate the payment or assignment of all or part of a producer's commission on the sale of insurance to an employee of the producer. HB 518
North Dakota's Insurance Commissioner issued a bulletin nothing that effective August 1, 2021, insurers and producers will be able to offer value-added products or services for loss control or loss mitigation to policyholders. To qualify as a value-added product or service, the value-added product or service must educate, assess, monitor, control or otherwise mitigate risk of loss to persons or property. Value-added products or services are no longer required to be specified in the form or rate filings and the Department asks that they not be included as a part of any filing. However, the Department does require notification of what the value-added product or service will be. Bulletin 2021-3
The New Mexico Insurance Superintendent issued a bulletin informing insurers that prior to offering or providing a value-added product or service, it must submit an informational filing in SERFF including a special form. Bulletin 2021-014
UTILIZATION REVIEW - HEALTH CARE
Connecticut's Insurance Commissioner issued a notice to all health carriers and licensed utilization review entities clarifying the External Review process due to a law change effective on October 1, 2021. Notice dated August 11, 2021
Newsletter
Property Casualty News August 2021
Property & Casualty News
August 2021
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!
AGENT / PRODUCER LICENSING AND APPOINTMENT
New Hampshire's Insurance Commissioner issued a bulletin reminding insurers they must appoint all producers acting as their agents. A penalty of up to $2,500 per violation may be assessed against licensees not in compliance. Bulletin INS 21-051-AB
AUTOMOBILE INSURANCE
Delaware's Insurance Commissioner reminds the casualty insurance industry writing private passenger and commercial automobile insurance policies and licensed adjusters to comply with the Comparative Negligence statute and Unfair Trade Practices Act when settling claims. Expected best practices are listed in the bulletin. Auto Bulletin 33
Illinois requires personal automobile policies to pay the replacement vehicle use or occupation tax, title, and transfer fees on a private passenger total loss claim. Failure to do so may be considered an improper claims practice. SB 61
Massachusetts' Director of State Rating Bureau published a Filing Guidance Notice designating certain 2022 model year motor vehicles as high theft vehicles. Filing Guidance Notice 2021-E
Michigan’s Department of Insurance announced the annually adjusted maximum work loss benefit and survivors' loss benefits payable under policies of personal protection insurance. Bulletin 2021-30-INS
Michigan's Department of Insurance published a bulletin addressing Family-Provided Attendant Care. The Department is clearing up an apparent misconception that the 2019 no-fault reforms placed a 56-hour "cap" on attendant care. Bulletin 2021-31-INS
CANCELLATION / NON-RENEWAL / PREMIUM OR COVERAGE CHANGES
Delaware requires prior notice be given when an insurer cancels a property insurance policy. Written notice must be mailed or delivered to the named insured at least 30 days prior to cancellation. However, when cancellation is for nonpayment of premium, at least 10 days' notice of cancellation must be given. SB 79
District of Columbia Insurance Commissioner issued guidance to carriers and premium finance companies on acceptable practices regarding the expiration and lifting of the COVID-19 public health emergency. Notice dated July 19, 2021
COMMERCIAL LINES INSURANCE
Texas eliminates the rate and form filing requirements for 18 types of commercial insurance for policies issued or renewed on September 1, 2021 and thereafter. Bulletin B-0022-21
CORPORATE GOVERNANCE
Illinois amended the Business Corporation Act to expand the requirements for shareholder meetings that are held remotely. The law allows foreign and domestic corporations to report interim changes to name and address of its officers, directors, principal office or its minority-owned business status. SB 116
CREDIT FOR REINSURANCE
Delaware revised provisions relating to credit for reinsurance. HB 44
CYBERSECURITY
Colorado passed a comprehensive consumer privacy law. This law allows consumers to opt out of the processing of their personal data, access, correct or delete the data or obtain a portable copy of their data. Opt-in consent is required for the processing of sensitive personal information such as genetic or biometric data, religion, or ethnic origin used to uniquely identify an individual. SB 190
Hawaii adopted the NAIC Insurance Data Security Model Law. SB 1100
Michigan's Insurance Department issued a bulletin summarizing certain requirements under the Insurance Data Security law which was effective on January 1, 2021. Among other requirements, the Director is to be notified within 10 business days after determination that a cybersecurity event has occurred involving nonpublic information. Bulletin 2021-32-INS
North Dakota issued a bulletin summarizing the requirements of the Insurance Data and Security Law, SB 2075. The bulletin includes to whom the law applies, staggered effective dates for implementation, and information on reporting cybersecurity events. Bulletin 2021-4
Wisconsin enacted the Insurance Data Security Law which requires notification of a cybersecurity event, confidentiality of certain documents, materials and information, and other requirements. SB 160
DISASTER / CATASTROPHIC EVENT
Michigan's Insurance Director published a Memorandum rescinding several bulletins and orders due to the state having lifted all Emergency Orders regarding the COVID-19 pandemic. Insurers have a grace period until November 1, 2021, to hold policyholder, stockholder, and board meetings on a remote basis. However, the grace period does not apply to filing requirements which effective July 26, 2021, have reverted to the filing requirements contained in the DIFS Annual Forms and Instruction Booklets. Memorandum dated July 26, 2021
Texas' Insurance Commissioner issued a bulletin informing carriers that the Governor rescinded specified suspensions issued in response to the COVID-19 pandemic, effective September 20, 2021. Specific details are contained in the bulletin. Bulletin B-0020-21
FILING REQUIREMENTS / PROCEDURES
Alabama's Insurance Department issued a bulletin indicating the filing fees effective October 1, 2021. Bulletin 2021-06
Alabama's Insurance Commissioner issued a bulletin indicating that P&C filings seeking trade secret confidentiality must be made electronically through SERFF. HB 132 requires P&C insurance filings relating to rates and rating organizations to be open to public inspection. The insurance commissioner is directed under the law to keep confidential and trade secret filings separate. Bulletin 2021-05
MISCELLANEOUS
Louisiana's Insurance Department issued an advisory letter to inform insurers that the Commissioner grants a waiver allowing policy limits to be reduced by defense expenses pursuant to SB 131 until July 30, 2022. This waiver applies to all P&C insurance policies except personal lines, medical malpractice, commercial vehicle, and commercial general liability. Advisory Letter 2021-04
Nebraska's Insurance Department has moved its offices twice in the last three years. Every carrier is instructed to update all forms with the correct address. For some claim denials, an insurer is required to give the department's address. A product filed with the old address does not need to be refiled in SERFF. Notice dated 7/28/21
PROPERTY INSURANCE
Delaware prohibits a property repair contractor from being assigned the rights and benefits under a property insurance policy if the policy so states. Property repair contractors may not subvert the public adjuster licensing requirements through the acquisition of a power of attorney from the named insured. SB 80
SURPLUS LINES
Alaska published a bulletin containing a list of eligible surplus lines insurers (white list). Bulletin B 21-05
TITLE INSURANCE / AGENTS
Maryland Insurance Commissioner issued a bulletin setting forth the conditions under which a title insurer may continue to conduct temporary remote audits of title insurance producers following the non-renewal of the COVID-19 state of emergency and December 31, 2021. Bulletin 21-19
TRADE PRACTICES
Connecticut's Unfair Insurance Practices Act has been amended to add that carriers cannot discriminate based on sexual orientation, gender identity or status as a victim of domestic violence. HB 6590
New Mexico amended its Unfair Trade Practices Law to allow an insurer to offer value-added products and services at no or reduced cost, even when they are not specified in the insurance contract. The Insurance Superintendent issued a bulletin informing insurers that prior to offering or providing a value-added product or service, it must submit an informational filing in SERFF including a Notification of Intent to Offer Value-added Products and Services Form. Bulletin 2021-014
North Dakota issued a bulletin providing an overview of the revised Unfair Trade Practices law regarding the use of value-added services not being considered a rebate under certain instances. The Insurance Department no longer wants value added products or services to be included in form or rate filings; however, a special form must be filed. Bulletin 2021-3
UNCLAIMED PROPERTY
California passed a law requiring that unclaimed property of at least $2,000 cash must be paid via electronic funds transfer to the Controller provided it meets other requirements. Prior law required property of at least $20,000 cash must be paid via EFT. SB 308
WORKERS' COMPENSATION
Maryland's Workers' Compensation Commission issued the annual cost of living adjustment (COLA) for compensation paid to employees with a permanent total disability for an accidental injury or occupation disease sustained on or after January 1, 1988. The 2022 amount is an increase of 0.9%. Annual Cost of Living Adjustment (COLA)
Minnesota's Department of Commerce has approved the 2022 Minnesota Ratemaking Report effective January 1, 2022. The overall average workers' compensation pure premium level change is reduced by 6.5%. Circular Letter 21-1790 dated August 12, 2021
Newsletter
Life and Health News August 2021
Life and Health News
August 2021
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!
AGENT / PRODUCER CONTINUING EDUCATION
Missouri passed a law giving the Director of Insurance the ability to give continuing education credits when a producer is a member of a local, regional or state professional insurance association. HB 604; 375.029
AGENT / PRODUCER LICENSING AND APPOINTMENT
Hawaii's Insurance Commissioner issued a Memorandum outlining changes as a result of Hawaii adopting certain provisions of the NAIC Producer Licensing Model Act and the Reinsurance Intermediary Model Act. Memorandum 2021-9LIC
Texas Department of Insurance published a bulletin setting forth a summary of changes to the agent licensing requirements in HB 4030. Bulletin B-0019-21
ANNUITIES / ANNUITY CONTRACTS
Maine amended its current annuity rule to adopt the best interest standard of conduct for producers and insurers. Insurance Rule Ch. 917 s 1+
Texas' Insurance Commissioner issued a bulletin outlining the requirements contained in HB 1777. These changes involve annuity best interest training requirements, disclosure forms, and a minimum nonforfeiture interest rate change to annuities. Bulletin B-0021-21
Virginia amended its current annuity rule to adopt the best interest standard of conduct for producers and insurers. 14 VAC 5-45-10 thru -47
CREDIT INSURANCE
South Carolina's Director of Insurance announced notice of tentative 2022 Credit Accident and Health Insurance rates and the opportunity to request a hearing. Bulletin 2021-05
CYBERSECURITY
Hawaii adopted the NAIC Insurance Data Security Model Law. SB 1100
DEFERRAL OF CASH SURRENDER BENEFITS
Idaho advised of the updated rate of interest on deferred payment of cash surrender benefits under a life insurance or individual deferred annuity when payment of the surrender value is requested by the policyholder with surrender of the policy. The Idaho State Treasurer announces a new interest rate each year. Bulletin 21-03
DISASTER / CATASTROPHIC EVENT
District of Columbia's Commissioner issued a notice giving guidance on insurance policy cancellations and premium payments when the COVID19 public health emergency expires or is lifted. Notice dated July 19, 2021
Federal Health and Human Services Department extended the existing federal public health emergency. HHS Renewal of PHE dated July 19, 2021
IRS released guidance on temporary premium assistance for COBRA and the related tax credit under the American Rescue Plan Act of 2021. This Notice supplements previous guidance under Notice 2021-31 and addresses additional issues. IRS Notice 2021-46
Michigan's Insurance Director published a Memorandum rescinding several bulletins and orders due to the state having lifted all Emergency Orders regarding the COVID-19 pandemic. Insurers have a grace period until November 1, 2021, to hold policyholder, stockholder and board meetings on a remote basis. However, the grace period does not apply to filing requirements which effective July 26, 2021, have reverted to the filing requirements contained in the DIFS Annual Forms and Instruction Booklets. Memorandum dated July 26, 2021
Ohio's bulletin sets forth the new position of the Department of Insurance regarding premium grace periods during COVID-19 without an Ohio emergency order in place. Insurers are encouraged to continue to provide payment flexibility to their insureds during the COVID-19 global pandemic. Bulletin 2021-03
Texas' Insurance Commissioner issued a bulletin informing carriers that the Governor rescinded specified suspensions issued in response to the COVID-19 pandemic, effective September 20, 2021. Specific details are contained in the bulletin. Bulletin B-0020-21
FILING REQUIREMENTS / PROCEDURES
Alabama's Insurance Department issued a bulletin indicating the filing fees effective October 1, 2021. Bulletin 2021-06
HEALTH CARE EXCHANGE / MARKETPLACE
HHS, DOL and the Treasury have jointly issued FAQs, Part 47 regarding mandated preventive health services coverage for HIV Preexposure Prophylaxis (HIV PrEP). FAQs About ACA Implementation Part 47 dated July 19, 2021
HEALTH INSURANCE - COMPREHENSIVE
Federal Departments of the Treasury, Labor, Health and Human Services, and Personnel Management issued an interim final regulation under the No Surprises Act. This rule seeks to protect individuals from large unexpected medical bills for services rendered by providers who do not participate in the health plan's provider network. The new rule affects health plans, health insurers and health care providers and applies to plan years beginning in 2022. 86 FR 36872
INDUCEMENTS
North Carolina's Commissioner of Insurance re-published a Bulletin written August 3, 1999, to give guidance to carriers regarding rebates and inducements. Bulletin 99-B-2
NONFORFEITURE
Iowa revised the interest rate from 1% to 0.15% used to calculate minimum nonforfeiture amounts for individual deferred annuities. HF 838; 508.38 3b.(1)
PHARMACY BENEFIT MANAGERS
Arkansas' Insurance Department issued a bulletin directed to Pharmacy Benefit Managers (PBM), Health Insurers and HMOs regarding Maximum Allowable Cost (MAC) Appeals to the Arkansas Insurance Department by pharmacies following a MAC appeal denial by a PBM. Bulletin 11-2021
TRADE PRACTICES
Connecticut passed a law prohibiting an insurer from discriminating against an individual solely based on his/her status as a living organ donor for life, disability income and long-term care insurance. Violation of this law is an unfair trade practice. HB 6387 s 2
Connecticut passed a law dealing with a carrier's use of genetic testing information. This applies to life, annuities, credit life or accident, disability, long-term care, accidental injury, specified disease and hospital indemnity insurance policies. SB 841
Connecticut's Unfair Insurance Practices Act has been amended to add that carriers cannot discriminate based on sexual orientation, gender identity or status as a victim of domestic violence. HB 6590
UNCLAIMED PROPERTY
California passed a law requiring that unclaimed property of at least $2,000 cash must be paid via electronic funds transfer to the Controller provided it meets other requirements. Prior law required property of at least $20,000 cash must be paid via EFT. SB 308
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