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GA HB63
Bill
Status
Passed
4/22/2024
Primary Sponsor
Noel Williams
Click for details
AI Summary
- Lowers the group size threshold from 51 to 20 covered employees, members, or enrollees for which insurers must furnish claims experience data upon a group policyholder's request within 30 days
- Claims experience data must include earned premiums for at least the last two policy years, total paid and incurred claims (including pooled/high-amount claims), and amounts exceeding individual pooling or stop-loss points
- Insurers using alternative premium calculation methods such as global fee arrangements may apply to the Insurance Commissioner for approval of an alternative form of claims experience reporting, with supporting documentation
- Insurers approved for alternative reporting must obtain the Commissioner's advance approval of a proposed response letter to policyholders explaining the alternative process
- Effective July 1, 2024, applying to all policies issued, delivered, or renewed on or after that date
Legislative Description
Insurance; insurers providing policies for groups of 20 or more to furnish claims experience at the request of a group policyholder; require
Last Action
Effective Date 2024-07-01
4/22/2024
Committee Referrals
Insurance and Labor3/2/2023
Insurance1/25/2023
Full Bill Text
No bill text available