Insurance, Health, Accident

Plain English Breakdown

Checked against official source text during the last sync.

Health Insurance Refund Period Extension

This act changes Tennessee law to extend the time period during which a person can get their money back for a Medicare supplement insurance policy from 30 days to 60 days.

What This Bill Does

• Changes the refund period for Medicare supplement policies in Tennessee from 30 days to 60 days.
• Requires that all new Medicare supplement policies and certificates must clearly state this extended refund period on their first page.
• Applies these changes starting January 1, 2026.

Who It Names or Affects

• People who buy Medicare supplement insurance in Tennessee
• Insurance companies that sell Medicare supplement policies in Tennessee

Terms To Know

Medicare supplement policy

An additional health insurance plan designed to cover some of the costs not covered by original Medicare.

Refund period

The time after buying an insurance policy when a person can cancel it and get their money back.

Limits and Unknowns

• Does not specify how or if the changes will affect existing policies before January 1, 2026.
• It is unclear what actions insurance companies must take to inform current policyholders about this change.

Official Summary Text

Abstract summarizes the bill.

Current Bill Text

HOUSE BILL 508
By Terry

SENATE BILL 552
By Reeves

SB0552
002081
- 1 -

AN ACT to amend Tennessee Code Annotated, Title 4,
Chapter 3, Part 13; Title 8; Title 55, Chapter 12;
Title 56 and Title 71, relative to insurance.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE:
SECTION 1. Tennessee Code Annotated, Section 56-7-1506, is amended by deleting
the language "thirty (30) days" and substituting "sixty (60) days".
SECTION 2. This act takes effect January 1, 2026, the public welfare requiring it, and
applies to policies and certificates entered into, issued, delivered, amended, or renewed on or
after that date.