HB 1985 Health benefit plans; sale by authorized foreign health insurers.
Michael J. Webert | all patrons    ...    notes
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Summary as introduced:
Health benefit plans; sale by authorized foreign health insurers. Establishes a procedure by which the State Corporation Commission may authorize health insurers licensed to sell health benefit plans in any other state to sell health benefit plans in Virginia without obtaining a license to engage in the business of insurance in Virginia or complying with other requirements applicable to Virginia-licensed insurers. A health benefit plan sold by an authorized foreign health insurer is not be required to include state-mandated health benefits. The measure establishes criteria to be used by the Commission in determining whether to authorize a foreign health insurer to sell, offer, or provide a health benefit plan in the Commonwealth. The measure authorizes the Commission to conduct market conduct and solvency examinations of any foreign health insurer that has applied for, or has received, authorization to sell health benefit plans in Virginia. The measure also specifies disclosures that an authorized foreign health insurer is required to include in applications and policies. The measure has a delayed effective date of January 1, 2018.

Full text:
01/10/17  House: Prefiled and ordered printed; offered 01/11/17 17103179D  pdf | impact statement

Status:
01/10/17  House: Prefiled and ordered printed; offered 01/11/17 17103179D
01/10/17  House: Referred to Committee on Commerce and Labor
01/26/17  House: Tabled in Commerce and Labor by voice vote