Bill > H3947

This bill amends Massachusetts state law to establish new procedural requirements for mergers involving various types of health-related insurance and service organizations, including health insurers, nonprofit hospital and medical service corporations, dental and optometric service corporations, health maintenance organizations, and health benefit plans. Specifically, the bill requires that before the state insurance commissioner can approve such a merger, three key conditions must be met: (1) the merger agreement must be on file with the division for at least 60 days, (2) copies of the agreement must be provided to several state agencies including the Attorney General, Center for Health Information and Analysis, Health Policy Commission, and Office of Medicaid, who will be given an opportunity to review and comment, and (3) a public hearing must be held if requested by any of the named state agencies or at least 10 Massachusetts taxpayers. The only exception to these requirements is in emergency situations where the commissioner determines immediate action is necessary to prevent damage to public health. The bill aims to increase transparency and provide more extensive review of potential insurance company mergers that could significantly impact healthcare services in the state.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/194/H3947