Health benefit plans; sale by authorized foreign health insurers. (SB916)

Introduced By

Sen. Amanda Chase (R-Midlothian)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Health benefit plans; sale by authorized foreign health insurers. Establishes a procedure by which the State Corporation Commission may authorize health insurers licensed to sell health benefit plans in any other state to sell health benefit plans in Virginia without obtaining a license to engage in the business of insurance in Virginia or complying with other requirements applicable to Virginia-licensed insurers. A health benefit plan sold by an authorized foreign health insurer is not be required to include state-mandated health benefits. The measure establishes criteria to be used by the Commission in determining whether to authorize a foreign health insurer to sell, offer, or provide a health benefit plan in the Commonwealth. The measure authorizes the Commission to conduct market conduct and financial condition examinations of any foreign health insurer that has applied for, or has received, authorization to sell health benefit plans in Virginia. The measure also specifies disclosures that an authorized foreign health insurer is required to include in applications and policies. The measure has a delayed effective date of January 1, 2019. Amends § 38.2-1802, of the Code of Virginia. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/19/2018Presented and ordered printed 18104036D
01/19/2018Referred to Committee on Commerce and Labor
01/29/2018Committee amendments
01/29/2018Impact statement from SCC (SB916)
01/29/2018Continued to 2019 in Commerce and Labor (14-Y 1-N) (see vote tally)
11/30/2018Left in Commerce and Labor

Post a Public Comment About this Bill



if you have one


(Limited HTML is OK: <a>, <em>, <strong>, <s>, <embed>)