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GA HB733
Bill
Status
Passed
5/6/2022
Primary Sponsor
Tyler Smith
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AI Summary
- Expands the definition of property insurance to include agreements that reduce amounts due on a consumer's finance agreement in the event of a total physical damage loss or unrecovered theft of a motor vehicle
- Revises the definition of "guaranteed asset protection waiver" to include contractual agreements offered with or without a separate charge, and allows such waivers to provide a benefit that waives an amount or credits a borrower toward the purchase of a replacement vehicle
- Requires health benefit policies covering diagnostic breast cancer examinations to apply cost-sharing requirements (deductibles, coinsurance, copayments) no less favorable than those for screening mammography, covering breast MRI, ultrasound, and mammogram exams as defined by National Comprehensive Cancer Network guidelines as of January 1, 2022
- Provides an exception for Health Savings Account-qualified High Deductible Health Plans, allowing cost-sharing requirements to apply only after the enrollee satisfies the minimum deductible under IRS Section 223, except for services classified as preventive care
- Part I (property insurance/GAP waiver changes) became effective July 1, 2022; Part II (breast examination cost-sharing parity) applies to policies issued or renewed on or after January 1, 2023
Legislative Description
Insurance; guaranteed asset protection waiver; revise definition
Last Action
Effective Date 2022-05-06
5/6/2022
Committee Referrals
Insurance and Labor3/16/2022
Insurance3/8/2021
Full Bill Text
No bill text available