AM NO 1 ADOPTED UC 1317
Alaska2026Enacted
SB132
Alaska Insurance Law Updates
Last scannedSep 21, 2026, 12:32 AM
In one sentence
This law updates rules for prosecuting life insurance crimes, expands the types of businesses state officials can examine, requires health insurers to offer out-of-network options, and sets deadlines for financial reports.
What it does
- Extends the time limit to prosecute life insurance offenses by one year after discovery, but not more than 20 years total from when the offense occurred.
- Allows state officials to examine pharmacy benefits managers and third-party administrators in addition to insurers.
- Requires health insurers offering network-only plans to also offer a non-network option at initial enrollment.
- Mandates that prior authorization forms explain how patients or providers can request exceptions for out-of-network care coverage levels.
- Sets June 1 as the deadline for annual audited financial reports, but allows officials to grant exemptions or extensions based on hardship.
Who it affects
- Insurance companies and health care insurers operating in Alaska
- Pharmacy benefits managers and third-party administrators
- People who buy insurance policies, especially those with network-based health plans
- State officials responsible for examining and regulating the insurance industry
Limits and unknowns
- The specific effective date for these changes is not listed in the provided text.
- Details on how much higher premiums or deductibles might be for non-network options are not included, only that they may be higher due to increased costs.
Plain language
Terms to know
- Third-party administrator
- A company that manages insurance claims or benefits on behalf of an insurer.
- Prior authorization
- Approval required from an insurer before a patient receives certain medical services.
- Audited financial report
- A formal review and verification of a company's money records by an independent accountant.
Official record
Sources
Official summary
OMNIBUS INSURANCE BILL An Act relating to insurance; and providing for an effective date.
Official activity
Bill history
- (S) EFFECTIVE DATE(S) OF LAW SEE CHAPTER1402
- (S) SIGNED INTO LAW 6/24 CHAPTER 17 SLA 251402
- (S) MANIFEST ERROR(S)1389
- (S) 3:20 P.M. 6/23/25 TRANSMITTED TO GOVERNOR1389
- (S) EFFECTIVE DATE(S) SAME AS PASSAGE1353
- (S) CONCUR AM OF (H) Y20 N-1353
- (S) CONCUR MESSAGE READ AND TAKEN UP1353
- (H) VERSION: HCS CSSB 132(FIN) AM H1329
- (H) TRANSMITTED TO (S) AS AMENDED1329
- (H) EFFECTIVE DATE(S) SAME AS PASSAGE1319
- (H) PASSED Y401318
- (H) READ THE THIRD TIME HCS CSSB 132(FIN) AM H1318
- (H) ADVANCED TO THIRD READING UC1318
- (H) AM NO 1 ADOPTED UC1317
- (H) FIN HCS ADOPTED UC1317
- (H) READ THE SECOND TIME1317
- (H) RULES TO CALENDAR 5/19/20251317
- (H) FN2: (CED)1311
- (H) NR: BYNUM, TOMASZEWSKI, GALVIN, JOSEPHSON, SCHRAGE1311
- (H) DP: HANNAN, STAPP, JIMMIE, FOSTER1311
Changes
Amendments
1 stored