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GA SB407
Bill
Status
Engrossed
3/26/2010
Primary Sponsor
Lee Hawkins
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AI Summary
- Authorizes the Georgia Commissioner of Insurance to identify at least five states with sufficiently similar insurance laws and approve for sale in Georgia individual medical and surgical health insurance policies already approved in those states, provided the insurer is licensed in both states
- Directs the Commissioner to lead the creation of a multi-state consortium with reciprocity agreements allowing participating states to function as a single entity for the approval, sale, rating, renewal, and issuance of individual health insurance policies
- Requires bold-face consumer disclosure notices on all out-of-state policies warning that Georgia's mandated benefits and rate-change protections may not apply, and advising purchasers to consult their agent or the Insurance Department
- Prohibits insurers from reclassifying policyholders or increasing premiums at renewal based on individual health status changes or individual claims experience, while still allowing class-wide rate adjustments and wellness-based premium discounts
- Policies sold under this article must comply with all Georgia-mandated coverage requirements (except athletic trainer services), meet NAIC actuarial and solvency standards, and fall under the Georgia Life and Health Insurance Guaranty Association for consumer protection
Legislative Description
Insurance; authorize insurers to offer individual medical/surgical health insurance that have been approved for issuance in selected states
Last Action
House Committee Favorably Reported
4/21/2010
Committee Referrals
Insurance3/30/2010
Insurance and Labor2/11/2010
Full Bill Text
No bill text available