SB 50 Summary

• Amends 36 O.S. 2001, Section 4502 regarding group accident and health insurance policies to add new requirements for discontinuing coverage types in the insurance market.

• Requires insurers to request Insurance Commissioner approval before discontinuing a particular type of group health insurance coverage, with the Commissioner having 60 days to determine if discontinuance is not a pretext for avoiding health-status-related claims.

• Mandates insurers provide at least 90 days' notice to policyholders and participants before discontinuing coverage, and must make alternative coverage options available to affected groups.

• Establishes liability for insurers that unlawfully discontinue coverage without Commissioner approval, allowing former policyholders to recover compensatory damages, costs, and attorney fees in actions filed within 5 years.

• Requires Commissioner to order extended benefits for at least 18 months during total disability when major medical insurance is discontinued, unless similar coverage is available under another group plan.