Bill > HB690

This bill amends Pennsylvania's insurance regulations to establish new requirements for group health insurers regarding claims experience data and enforcement mechanisms. The bill defines key terms like "insurer" and creates a new chapter in the state's insurance code focused on group market provisions. It mandates that insurers with group health policies of 51 or more covered employees must provide detailed claims experience data to group policyholders within 30 days of request, including information about earned premiums, total incurred claims, and other financial metrics. Insurers are allowed to charge a reasonable fee for this data but must adhere to privacy protection laws. The bill also establishes a comprehensive enforcement framework, empowering the Insurance Commissioner to impose penalties for violations, including fines up to $5,000 for standard violations and $10,000 for willful violations, with aggregate annual caps of $500,000 for insurers and $100,000 for other entities. Additionally, the bill allows for license suspensions, new license refusals, and considers violations as potential unfair insurance practices. The new regulations will take effect 60 days after passage, providing insurers time to adjust to the new requirements.