Bill No.: HB0082 Drafter: JWL
LSO No.: 13LSO-0172 Effective Date: 7/1/2013
Enrolled Act No.: HEA0030
Chapter No.: CH0059
Prime Sponsor: Joint Labor, Health and Social Services Interim Committee
Catch Title: Interstate sales of health insurance.
Subject: Authorizes sale of health insurance policies approved in other states.
Summary/Major Elements: This bill:
· Directs the insurance commissioner to approve for sale in Wyoming health insurance policies approved in other states if:
o The insurer, its affiliate or subsidiary is authorized to transact business in Wyoming and meets NAIC actuarial standards;
o The insurer agrees that the commissioner and Wyoming courts will have jurisdiction over any policy disputes;
o The insurer complies with small employer marketing requirements;
o The commissioner ensures that the insurer’s provider network is adequate;
o The insurer informs the commissioner if the policy will be priced the same in Wyoming as in the other state.
· Authorizes resident insurers to sell policies with the same benefits as policies sold under this act;
· Requires a written warning on applications and policies regarding the possible applicability of another state’s laws.
Comments:
· Report required to Joint Labor Committee by October 31, 2014, regarding the number of out-of-state policies sold in Wyoming and the required differential pricing information.