HB 2089 - Health Premium Transparency

• Requires health insurers to submit annual reports to the Insurance Commissioner detailing how premiums are spent, including itemized administrative costs, medical expenses, and interest earned, certified by an actuaries.

• Establishes minimum medical expense thresholds that insurers must spend on direct patient care: 80% for individual and small employer plans, and 85% for large employer plans.

• Mandates insurers issue dividends or credits to policyholders when failing to meet the minimum medical expense thresholds, subject to Commissioner approval before distribution.

• Creates a data clearinghouse within the Insurance Division to collect health care claims information from insurers and providers, analyze it, and publish annual consumer guides on hospital and ambulatory surgery center quality, safety, and costs.

• Authorizes consumers, employers, and their representatives to seek injunctions to enforce the bill's requirements; establishes penalties of $1,000 to $10,000 per day for insurers failing to comply with reporting requirements.