SB2854 Summary

• Requires insurers seeking to provide multi-peril coverage for residential property after July 1, 2016 to submit written requests to the commissioner for permission, with authority to disapprove requests.

• Mandates electronic filing of annual tax statements by March 1 and monthly statements by the 20th of the following month, with electronic payment via Automated Clearing House system for all insurance premium taxes.

• Adds disclosure requirements for short-term health insurance policies with preexisting conditions provisions to display a conspicuous statement in 14-point bold type listing the exclusion period.

• Expands definitions of covered healthcare providers to include advanced practice registered nurses and physician assistants for contraceptive services, child health supervision services, and mental illness benefit coverage including eating disorder treatment by licensed dietitians.

• Permits risk retention groups to be participants (but not sponsors) in sponsored captive insurance companies and adds enforcement provisions requiring pharmacy benefit managers to respond to commissioner inquiries within 15 working days.