Bill > SB1270

This bill introduces several important changes to Tennessee insurance laws. First, it requires health benefit plan issuers to provide comprehensive claims experience reports to group health plan sponsors or administrators within 30 days of a written request, including detailed information such as aggregate paid claims, total premiums, monthly covered employee counts, and claims over $75,000 for the preceding 36-month period. The bill also revises definitions related to commercial and personal risk insurance, expanding and clarifying categories of farm property and farm risks. Additionally, the legislation modifies requirements for life and health insurance policy readability, mandating that policy text achieve a minimum score on the Flesch reading ease test, have a balanced visual presentation, and include a table of contents for longer policies. The bill makes technical amendments to existing insurance regulations, including changes to reinsurance provisions and removing certain sections of insurance code. Different sections of the bill will take effect at different times, with some provisions becoming law immediately and others becoming effective in 2025 and 2026, reflecting the complexity of implementing these insurance regulatory changes.

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https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=SB1270&ga=114