CT SB01049

Repeals and replaces Section 38a-1 of Connecticut General Statutes effective January 1, 2022, updating definitions related to insurance terminology including affiliate, insurer, domestic insurer, and other regulatory terms.

Creates new Section 2 effective January 1, 2022, requiring all health carriers offering qualified high deductible health plans in Connecticut to apply annual deductibles on a calendar year basis.

Defines "qualified high deductible health plan" as a high deductible health plan with an annual deductible meeting the federal minimum threshold, regardless of whether it is used to establish medical savings accounts, Archer MSAs, or health savings accounts.

Applies the calendar year deductible requirement to the maximum extent permitted by federal law, with an exception for plans used to establish medical savings accounts or health savings accounts to avoid disqualifying those accounts from federal tax deductions.

Authorizes the Insurance Commissioner to adopt regulations in accordance with Connecticut's Administrative Procedures Act to implement the bill's provisions.