Official summary
Bill No.: <billno> Drafter: <drafterinit>
Bill No.:
HB0128
Drafter:
JWL
LSO No.:
10LSO-0345
Effective Date:
7/1/2010
Enrolled Act No.:
HEA0061
Chapter No.:
Prime Sponsor:
Representative
Simpson
Catch Title:
Health
insurance-interstate purchase.
Subject:
Authorizes
interstate sale of health insurance
Summary/Major Elements:
This act:
o
Directs the Insurance
Commissioner to enter into a consortium with at least five other states for the
reciprocal interstate sale of health insurance policies;
o
Requires that one of the
consortium states be designated as the primary state for purposes of regulation
under that state's laws and regulations;
o
Provides that a consortium
state insurer is exempt from a secondary state's laws and regulations, except
for premium taxes and assessments, registration requirements, unfair claims
practices and judicial process;
o
Identifies matters to be
considered by the commissioner in establishing rules of reciprocity, the types
of policies eligible to be sold and the effect of interstate sales on
regulation of domestic insurers.
Comments:
Effective date of this act is July 1, 2010, but no policies
shall be issued in this state under the act before July 1, 2011.