Bill > HR610

This bill aims to reform Medicare supplemental health insurance policies (Medigap) by introducing several key provisions to protect and improve insurance coverage for Medicare beneficiaries. The bill establishes guaranteed issue requirements that prevent insurers from denying or discriminating against individuals based on health status, preexisting conditions, or genetic information, ensuring that people can access Medigap policies more easily. It mandates that the Centers for Medicare & Medicaid Services develop an outreach plan to inform beneficiaries about these changes and create a more transparent Medicare plan finder website with detailed information about insurance options. The bill also updates medical loss ratio requirements, requiring insurance companies to spend a certain percentage of premiums on actual healthcare benefits, and introduces new standards to limit pricing discrimination based on age or eligibility status. Additionally, the bill requires increased transparency from Medicare supplemental insurance brokers by mandating annual reporting of payments and transfers of value. The changes will be phased in over time, with full implementation required by January 1, 2031, to minimize disruption to current insurance markets and give stakeholders time to adapt to the new regulations.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/610/all-info