Bill > HB0329

This bill amends Tennessee's insurance laws to create a pathway for certain foreign multiple employer welfare arrangements (MEWAs) to be classified as domestic MEWAs under specific conditions. The bill defines key terms such as "bank" (which includes financial institutions and their parent/affiliate entities) and "plan-sponsoring organization" (an association that meets certain criteria). To be deemed domestic, a foreign MEWA must be composed only of banks and their employees, be licensed in a contiguous state, have no more than 2,500 Tennessee residents enrolled, be subject to adequate regulatory oversight, and obtain a certificate of authority from Tennessee's insurance commissioner. The bill gives the commissioner discretion to waive certain regulatory requirements if the MEWA is subject to reasonable oversight in its home state. Additionally, the bill clarifies that the commissioner can create rules to ensure the solvency and administration of these arrangements, but these rules cannot prohibit or deter associations from offering health insurance coverage that complies with federal law. The legislation aims to provide more flexibility for bank-related multiple employer welfare arrangements while maintaining regulatory safeguards.

Budget and Finance, Business and Industry, Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0329&ga=114