Bill > SB121

This bill requires licensed insurance companies in New Hampshire to provide 120 days' written notice to the state insurance department when discontinuing certain types of insurance. Specifically, the bill mandates that insurance companies must notify the department 120 days in advance if they plan to cease writing an entire line of business, such as fire or casualty insurance. For Medicare Advantage Plans (health insurance plans offered by private companies that contract with Medicare), the bill requires insurers to provide 120 days' notice before modifying or terminating their contract with the Centers for Medicare and Medicaid Services (CMS), stopping Medicare Advantage Plan offerings in a specific county, or making significant changes to their Medicare Advantage Plan offerings. The notice must be in writing and follow a format prescribed by the insurance commissioner. This legislation aims to provide greater transparency and advance warning to regulators and potentially affected policyholders when insurance companies make substantial changes to their business operations. The bill will take effect 60 days after its passage, and according to the fiscal note, it is not expected to have any financial impact on state, county, or local budgets.

Business and Industry, Health and Social Services

https://gc.nh.gov/bill_status/legacy/bs2016/bill_docket.aspx?lsr=924&sy=2025&sortoption=&txtsessionyear=2025&txtbillnumber=SB121