VA HB358

Expands State Corporation Commission's regulatory authority over Medicare supplement policies to include standards for claims processing and requires insurers to disclose methodology used in coverage decisions

Establishes a Bureau of Insurance work group to assess costs affecting Medicare Advantage and Medicare supplement policies and develop regulatory recommendations

Work group must review claims processing standards, risk adjustment mechanisms, market stabilization pools, overpayment waste and abuse, coverage decision methodologies, and care disparities

Work group must evaluate consumer protections including the 60-day birthday rule open enrollment period, barriers to switching policies or carriers, guaranteed-issue compliance, and options to improve beneficiary flexibility

Work group membership includes health plans, hospitals, physicians, consumer counseling organizations, and at least two current Medicare supplement policyholders, with findings due to legislative committees by December 1, 2026