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House Bill 1555

House Bill 1555

ARCHIVE (2001)

Latest Information

DIGEST OF HB1555 (Updated April 12, 2001 10:42 AM - DI 84)

Various insurance matters. Allows the state health commissioner to take remedial action under certain circumstances. Authorizes the insurance commissioner to adopt rules providing for the accrual and quarterly billing of insurance filing fees. Includes a HMO and a limited service HMO within the definition of "insurer" for purposes of the law regulating insurance holding company systems. Prohibits a person from disclosing nonpublic personal financial information and authorizes the insurance commissioner to implement rules. Requires the insurance commissioner to consider the remediation efforts of a person who has engaged in unfair methods of competition or deceptive acts or practices in the business of insurance when assessing fines and penalties. Requires the insurance commissioner to produce a report containing specified information and to provide a copy of the report to certain committees of the general assembly. Provides requirements for cancellation or nonrenewal of residential insurance policies. Requires an insurer to notify a residential policyholder regarding coverage for flood damage. Requires a utilization review agent to, under certain circumstances, supply an insured with certain information at the time an adverse utilization review determination is made, and to provide this information to a provider of record upon request. Requires an insurer to establish and maintain an internal grievance procedure and an external grievance review procedure. Amends the Indiana HMO law concerning: (1) assumption of a corporate name; (2) reinsurance; (3) rights and responsibilities of domestic, foreign, and alien HMOs; (4) annual and other filings; (5) noncovered health care expenditures; (6) receivership; and (7) voluntary dissolution. Requires the department of insurance commissioner to begin to study potential solutions to: (1) the accelerated rate increases for individual health insurance policies that are not actively marketed; and (2) consumer misunderstanding of precertification and preauthorization requirements under preferred provider plans. Requires the commissioner to report any potential solutions resulting from the study to certain people.
Current Status:
Law Enacted
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