Bill > HB618

This bill amends various reporting requirements for health insurance in Virginia, aiming to increase transparency and streamline information. Specifically, it mandates that the State Corporation Commission (SCC), which oversees state corporations and financial institutions, create and publicly share an inventory of all mandated health benefits and providers. Health insurance companies, referred to as "health carriers," will now be required to report annually on any instances where they terminate or reinstate providers in their network. Additionally, the bill consolidates reporting related to balance billing (when an out-of-network provider bills a patient for the difference between their charge and what insurance pays) and arbitration processes. As part of these changes, the bill repeals reporting requirements for the Comparable Health Care Service Incentive Program, which encouraged consumers to shop for lower-cost healthcare services, and the Virginia Health Savings Account Plan.

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https://lis.virginia.gov/bill-details/20261/HB618