Life and Health News
Welcome to our latest newsletter! As a thought leader in the Insurance Industry for over 49 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!
AFFORDABLE CARE ACT
Oregon made a temporary amendment to its regulation regarding Oregon's standard bronze and silver health benefits for plan years beginning on or after January 1, 2018. 836-053-0013
South Carolina issued a memorandum concerning filing timelines for insurers wishing to offer non-grandfathered health insurance coverage or coverage of pediatric dental services under the Exchange. Memorandum of April 20, 2018
Tennessee issued filing guidelines for forms and rates for 2019 plans. The form filing period will run until 6/20/2018, and the Department will allow carriers to submit rates no later than 7/11/2018. Filing Guideline for 2019 ACA Forms and Rates
AGENT / PRODUCER CONTINUING EDUCATION
Rhode Island amended regulations regarding continuing education for insurance producers. Sections regarding Approved Courses, Approved Providers and Course Submissions, and Fees were amended. Other changes were not substantive. 230-RICR-20-50-2 +
AGENT / PRODUCER LICENSING AND APPOINTMENT
Arizona amended its regulation regarding fees charged by insurance producers. The regulation previously provided that producers could not charge fees in connection with certain lines of coverage, and "life, annuity, and long-term care" have been removed from the list of coverages. SB 1295; 20-465
Arkansas issued a bulletin regarding 2018 company renewals of producer appointments. Bulletin No. 5-2018
California issued a notice to insurance producers, adjusters, and admitted insurers about a fingerprint fee increase. Licensing Notice dated April 2, 2018
South Carolina amended its regulation relating to licensing requirements for individual and agency insurance producers. Fingerprint requirements are amended, and provisions concerning licenses that lapse because of failure to complete continuing education are expanded. HB 4654; 38-43-100
Tennessee has amended requirements for insurance producer license examinations. There are now specified wait times before reapplying to retake the examination if an individual previously failed it. 56-6-105
ADVERTISING COMPLIANCE EVENT and SOCIAL MEDIA MINI-BOOTCAMP
Early Bird registration extended to 6/19/18! Don’t be left out. This seminar will share advertising and social media compliance expertise to help you maintain regulatory compliance. Click here to learn more!
Arizona amended its regulations concerning fees and taxes, including premium tax, paid by captive insurers. SB 1101; 20-1098.17
CLAIMS / CLAIMS ISSUES
Arizona amended provisions relating to timely payment of health claims by clarifying definitions and allowing a right of civil action regarding out-of-network disputes. SENATE BILL 1064, Section 20-3111 +
HALF-TIME FOR 2018 COMPLIANCE TRAINING
2018 is almost halfway over! Have your staff training goals been met? Click here to learn how First Consulting can help.
CONFIDENTIALITY / PRIVACY
Arizona amended its regulations relating to personal information and data security breaches. HOUSE BILL 2154
Rhode Island amended its regulation regarding privacy of consumer information. 230-RICR-20-60-7
South Dakota enacted a legislation requiring notice to consumers and the attorney general about any breach of system security where a resident's personal or protected information was, or is reasonably believed to have been, acquired by an unauthorized person. Notice must be given within 60 days from the discovery of the breach. Uncodified SB 62 s 2
Tennessee enacted legislation to create the Corporate Governance Annual Disclosure Act. The purpose of the Act is to outline requirements for completion of a corporate governance annual disclosure and provide for the confidential treatment of the disclosure and related information. HB 1808; 56-2-901 +
South Carolina enacted the South Carolina Insurance Data Security Act to establish standards for data security and standards for the investigation of and notification to the director of a cybersecurity event. HB4655; Act 171 of 2018; 38-99-10 +
DRUG / PRESCRIPTION COVERAGE
Nebraska adopted the Investigational Drug Use Act, effective July 19, 2018. Uncodified LB 117 s 7 (2018);
South Carolina enacted legislation regarding pharmacy benefit managers and providing prohibited acts. HB 5038; 38-71-2150
Tennessee enacted a law relating to the use of off-label treatments, effective July 1, 2018. Uncodified HB 2220 s 1 (2018)
Oregon amended provisions regarding rate filings for individual and small employer health benefit plans. 836-053-0473, 836-053-0474
HEALTH INSURANCE - COMPREHENSIVE
Alaska issued a bulletin extending the transitional policy for an additional year by allowing insurers the option to renew non-ACA-compliant coverage if coverage has been continuously in effect since December 31, 2013. Bulletin B 18-07
HEALTH INSURANCE / HEALTH RATES
South Carolina issued a bulletin regarding the Federal Extension of the Transitional Policy through Calendar Year 2019 for Health Insurance Issuers with Non-Grandfathered Health Insurance Coverage in the Individual or Small Group Market. Bulletin 2018-01
IIPRC / INTERSTATE COMPACT
The Compact issued a notice to filers regarding updates to its Member State Filing Fee Chart. The updated Member State Filing Fees chart is available on the Insurer Resources page of the Insurance Compact website. Notice to Filers of 05-24-18
2017 CSO FILINGS – GET AHEAD OF THE COMPETITION
The new 2017 CSO Mortality Table is here. Do you know what needs to be submitted in each state….full forms, only schedule pages, approval, informational, expedited?
NO WORRIES - First Consulting can make this process simple!
Click here to learn more.
MISCELLANEOUS HEALTH / ACCIDENT
Arizona enacted legislation regarding requirements for electronic credentialing application submission. On or before December 31, 2019, the health insurers shall adopt and implement a standard application and, to the greatest extent possible, shall establish an electronic process to submit supporting documentation for a credentialing application. 20-3402
Wisconsin issued a bulletin regarding updates to guidance regarding coverage of equipment and supplies for treatment of diabetes. Bulletin May 17, 2018; 632.895
New Mexico issued a bulletin to all insurers to clarify the application of Medical Insurance Pool ("MIP") credits to premium tax liability. This bulletin replaces Bulletin 2018-001. Bulletin 2018-005
Nebraska adopted updates to the NAIC's credit for reinsurance model law, effective July 19, 2018. LB 815; 44-416.06; 44-416.07; 44-416.09
Wisconsin amended its regulation regarding the death master file for unclaimed life insurance and annuities, effective May 1, 2019. 632.63
2018 is almost halfway over! Have your staff training goals been met?
First Consulting offers:
• Anti-Fraud – L&H and P&C
• Anti-Money Laundering – Fixed & Variable Products
• OFAC (Office of Foreign Asset Control)
Which one(s) does your staff still need this year? Click here to learn more, or contact me today for a free Preview and see what you’ve been missing!
Debby Paris, FLMI, ACP
The new 2017 CSO Mortality Table is here. Are you prepared to update your products? Do you know what needs to be submitted in each state….full forms, only schedule pages, approval, informational, expedited?
NO WORRIES - First Consulting can make this process simple! Our experts have the experience to draft and file these CSO revisions with the Interstate Compact and each state, and we can make the filings on your Company's SERFF instance.
• Just Added! 2017 CSO Adoption and Effective Date chart – check out our free chart detailing the current CSO adoption by each state.
Don’t delay this important update. Get ahead of your competition. Contact me today to discuss how we can help you, or to get an estimate of fees.