Alaska2026Passed Legislature

HB148

Alaska Insurance Changes: Time Limits, Health Plans, Taxes, Reporting, and Medical Assistance

Last scannedSep 10, 2026, 12:32 AM

In one sentence

This bill changes rules for insurance companies in Alaska regarding time limits to sue over life insurance offenses, health plan options, prior authorization forms, financial reporting requirements, tax calculations, and cooperation with the state medical assistance program.

Allows prosecution of life insurance offenses within one year after discovery by an aggrieved party or a person with legal duty to report, even if standard time limits have passed, but not more than 20 years total from when the offense occurred.
Requires health insurers offering network-only plans to also offer non-network options at initial enrollment, which may include higher deductibles, copayments, or premiums due to increased costs for out-of-network care.
Mandates that prior authorization forms explain how providers or patients can request a benefit-level exception to receive in-network coverage levels when using out-of-network providers.
Removes the automatic exemption from filing annual audited financial reports unless the director grants an exception based on hardship, and allows the director to require earlier filing with 90 days' notice for good cause.
Changes insurance tax rules by removing exemptions for wet marine and transportation insurance while keeping specific tax rates of 2.7% for most insurers, 6% for hospital and medical service corporations, and 0.75% for wet marine and transportation insurance.
Requires insurers and pharmacy benefits managers to cooperate with the Department of Health on state medical assistance programs by providing coverage information, accepting recovery rights, responding to inquiries within 60 days, and not denying claims based solely on submission date or form type if filed within three years.

Life insurers facing potential prosecution for offenses discovered after standard time limits expire.
Health care insurers that offer policies with provider networks in Alaska.
All insurers required to file annual audited financial reports or pay insurance taxes, including those seeking hardship exemptions.
Pharmacy benefits managers and health plans participating in the state medical assistance program.

The bill text is truncated at the end, so details about how the director may approve jurisdictions not on the National Association of Insurance Commissioners list are incomplete.
Specific dates when these changes take effect are not listed in the provided source material.

Plain language

Prior authorization: A process where an insurer must approve a service before it is provided to ensure coverage, which now requires forms explaining how to request exceptions for out-of-network care.
Non-network option: An insurance plan choice that allows patients to see doctors who do not have contracts with the insurer, often at higher cost through deductibles or premiums.
Audited financial report: A yearly review of a company's money records prepared by a qualified independent certified public accountant that insurers must file unless granted an exemption.

Official record

Validated

OMNIBUS INSURANCE BILL An Act relating to insurance; and providing for an effective date.

Official activity