Bill Text: IN HB1043 | 2012 | Regular Session | Introduced
Bill Title: Individual out-of-state health insurance.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2012-01-09 - First reading: referred to Committee on Insurance [HB1043 Detail]
Download: Indiana-2012-HB1043-Introduced.html
Citations Affected: IC 27-8-5.1.
Synopsis: Individual out-of-state health insurance. Allows an accident
and sickness insurer that is licensed in certain other states, and is not
licensed in Indiana, to issue or deliver an individual policy of accident
and sickness insurance to an individual resident of Indiana without
complying with other Indiana insurance law.
Effective: July 1, 2012.
January 4, 2012, read first time and referred to Committee on Insurance.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
insurance.
Chapter 5.1. Out-of-State Individual Policies of Accident and Sickness Insurance
Sec. 1. As used in this chapter, "commissioner" refers to the insurance commissioner appointed under IC 27-1-1-2.
Sec. 2. As used in this chapter, "out-of-state insurer" means an insurer that:
(1) does not possess a certificate of authority to engage in the business of insurance in Indiana; and
(2) is licensed to engage in the business of insurance in another state in which the state insurance department is accredited under the National Association of Insurance Commissioners' Financial Regulation Standards and Accreditation Program.
Sec. 3. As used in this chapter, "policy of accident and sickness
insurance" means a policy or contract covering one (1) or more of
the kinds of insurance described in Class 1(b) or Class 2(a) of
IC 27-1-5-1.
Sec. 4. Notwithstanding any other law, an out-of-state insurer
that complies with:
(1) this chapter; and
(2) the applicable law of the state in which the out-of-state
insurer is licensed;
may, without complying with any other provision of this title, issue
or deliver to a resident of Indiana an individual policy of accident
and sickness insurance that the out-of-state insurer is authorized
to issue or deliver in the state in which the out-of-state insurer is
licensed.
Sec. 5. The commissioner:
(1) may:
(A) conduct market conduct and solvency examinations of
an out-of-state insurer before and after the out-of-state
insurer begins issuing or delivering policies of accident and
sickness insurance in Indiana under this chapter; and
(B) adopt rules under IC 4-22-2 to review and limit
premium rate changes that apply to a policy of accident
and sickness insurance described in section 4 of this
chapter; and
(2) shall conduct examinations under subdivision (1)(A) in the
same manner and according to the same terms and conditions
as an examination is conducted for an insurer that possesses
a certificate of authority to issue individual policies of
accident and sickness insurance in Indiana.
Sec. 6. An out-of-state insurer shall provide the following notices
in 12 point bold type at the beginning of a policy of accident and
sickness insurance at the time the policy is issued or delivered
under this chapter in Indiana and at renewal:
(1) "NOTICE: This policy is primarily governed by the laws
of (state where policy is filed). Rating laws that apply to
policies filed in Indiana may not apply to this policy, and this
may result in increases in your premium at renewal that
would not be permissible in an Indiana-approved policy. Any
purchase of individual health insurance should be considered
carefully since future medical conditions may make it
impossible to qualify for another individual health insurance
policy. For information concerning individual health
insurance coverage under an Indiana-approved policy, please
consult your insurance agent or the Indiana Department of
Insurance.".
(2) "NOTICE: The benefits of this policy are governed
primarily by the laws of (state where policy is filed). While
this health insurance policy may provide you more affordable
health insurance coverage, it may also provide fewer health
insurance benefits than those normally included as state
mandated health benefits in health insurance policies in
Indiana. Please consult your insurance agent to determine
which state mandated health benefits are excluded under this
health insurance policy.".
