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MN HF2885
Bill
Status
3/15/2023
Primary Sponsor
Jerry Newton
Click for details
AI Summary
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TRICARE enrollees may elect to decline medical expense benefits coverage in their automobile insurance policy, with the option remaining in effect until revoked or the enrollee disenrolls from TRICARE.
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Insurance companies must notify policyholders of their rights to decline coverage at the time of sale and at least once annually thereafter.
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Insurance rates must be reduced accordingly for any plan where medical expense benefits coverage has been excluded.
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The subdivision only applies when the insured has minor dependents who are not enrolled in TRICARE and does not apply to self-insurance policies.
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The bill becomes effective July 1, 2023, and applies to plans offered, issued, or renewed on or after that date.
Legislative Description
TRICARE enrollees allowed to elect not to include medical expense benefits in enrollee's automobile insurance policy.
Last Action
Introduction and first reading, referred to Commerce Finance and Policy
3/15/2023