Easier Interstate Health Insurance Purchases
New rules aim to simplify the purchase of individual health insurance across state lines, potentially increasing access and choice. Citizens will be able to buy policies governed by the laws of the insurer's primary state, even if they reside in another state. The bill also mandates clear disclosure of differences in coverage and consumer rights between states.
Key points
Cross-state health insurance options: Insurers can offer policies in multiple states, but will be primarily regulated by one chosen 'primary state'.
Increased choice and potential cost savings: This could give citizens access to a wider range of insurance options, potentially leading to more competition and lower premiums.
Protection against unfair practices: The bill retains state laws against fraud, abuse, and unfair claims settlement practices, and ensures independent appeal procedures.
Prohibition on health status-based premium increases: Insurers cannot raise premiums or reclassify individuals upon renewal due to changes in health status.
Clear disclosure requirements: Insurers must clearly inform policyholders that their policy is governed by another state's laws and may not cover all benefits mandated in their resident state.
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