Bill > SB0286

This bill modifies Tennessee's regulations regarding Multiple Employer Welfare Arrangements (MEWAs), specifically creating a pathway for foreign MEWAs (those organized in other states) to be considered domestic arrangements under certain conditions. The bill defines key terms like "bank" and "plan-sponsoring organization" and establishes criteria for a foreign MEWA to be deemed domestic, including: being comprised only of banks and their employees, being licensed in a contiguous state, having no more than 2,500 Tennessee residents enrolled, being subject to adequate regulatory oversight, and obtaining a certificate of authority from Tennessee's insurance commissioner. The bill grants the commissioner discretion to waive certain regulatory requirements and allows for rules to be promulgated to ensure solvency and administration of these arrangements. Importantly, the legislation aims to facilitate health insurance coverage options for bank associations while maintaining regulatory safeguards, ensuring that such arrangements comply with federal law and provide appropriate protections for policyholders. The changes are designed to offer more flexibility for bank-related MEWAs while still maintaining state oversight of insurance products.

Business and Industry

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB0286&ga=114