TN HB1304

Health benefit plan issuers must provide claims experience reports within 30 days of a written request from group health plans with 50+ participants, including aggregate monthly paid claims, premium data, employee enrollment by coverage tier, and all claims exceeding $75,000 for up to 36 months

Redefines "commercial risk insurance" and "personal risk insurance" to clarify treatment of farm property coverage, specifying that farm risks can be covered under either category and that commercial coverage of farm property does not affect property classification under other state laws

Updates insurance policy readability requirements, mandating a minimum Flesch reading ease score of 40, no undue prominence to any policy section, and a table of contents for policies exceeding 3,000 words

Deletes Sections 56-7-2312 through 56-7-2322 from Tennessee Code and makes technical corrections to reinsurance credit provisions regarding reciprocal jurisdictions, letters of credit standards, and subdivision references

Effective dates vary: claims experience reporting and policy readability provisions take effect upon becoming law; reinsurance amendments take effect July 1, 2025; farm insurance classification changes take effect January 1, 2026