VA HB49 | 2018 | Regular Session

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on November 30 2017 - 25% progression
Action: 2017-11-30 - Committee Referral Pending
Text: Latest bill text (Prefiled) [HTML]

Summary

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 financial condition 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, 2019.

Tracking Information

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Title

Health benefit plans; sale by authorized foreign health insurers.

Sponsors


History

DateChamberAction
2017-11-30HouseCommittee Referral Pending
2017-11-30HousePrefiled and ordered printed; offered 01/10/18 18100944D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
3821802(n/a)See Bill Text
3826400(n/a)See Bill Text
3826405(n/a)See Bill Text

Virginia State Sources


Bill Comments

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