Michigan Issues Bulletin Regarding the Pharmacy Benefit Manager Transparency Report
MI| Bulletin 2025-02-INS outlines the requirements for pharmacy benefit managers (PBMs) operating in Michigan under the Pharmacy Benefit Manager Licensure and Regulation Act, which took effect on January 1, 2024. The bulletin mandates that PBMs must submit their first transparency report for the calendar year 2024 by April 1, 2025, and annually thereafter, unless more frequent […]
New Jersey Issues Bulletin Regarding Coverage for HIV Pre-Exposure Prophylaxis
NJ| Bulletin No 25-01, issued by the New Jersey Department of Banking and Insurance reminds health insurance carriers of their obligation to cover HIV pre-exposure prophylaxis (PrEP) without cost-sharing for individuals at high risk of HIV acquisition. The bulletin outlines the Affordable Care Act’s requirement for coverage of preventive health services, including PrEP, based on […]
Alaska Insurance Division Updates Surplus Lines Coverage Effective January 2025
AK| The Alaska Division of Insurance issued Order R 25-01, effective January 7, 2025, updating the state’s Surplus Lines Placement List in accordance with 3 AAC 25.040 and Alaska Statute AS 21.06.180-230. The order follows a hearing and reviews insurers’ availability in the admitted market. It adds specific insurance classes to the surplus lines list—categories […]
Alabama Updates Surplus Lines Reporting Regulations
AL| Beginning January 1, 2025, each surplus line broker shall file a quarterly report detailing surplus-lines transactions occurring in this state in the previous calendar quarter. The filing schedule shall be as follows: Click here to see Insurance Regulation Changes to Chapter 482-1-036
Massachusetts Announces New Location
MA | The Massachusetts Office of Consumer Affairs and Business Regulation has moved. The new address is: 1 Federal Street, Suite 0720Boston, MA 02110-2012 Click here for more information.
Pennsylvania Issues Notice Regarding Increase in the Accident Surcharge Dollar Threshold to $2,250
PA| The Pennsylvania Insurance Department has announced an increase in the Accident Surcharge Dollar Threshold (Cap) to $2,250, effective July 1, 2025. This cap represents the maximum aggregate claim cost over a 3-year period that insurers can use to penalize policyholders through rate surcharges or premium increases. The adjustment, required by law at least every […]
Pennsylvania Issues Second Reminder for Surplus Lines Agents to File Gross Premium Tax Reports
PA | Each year at this time all surplus lines licensees (resident and non-resident) licensed in the Commonwealth of Pennsylvania are reminded to file and remit the collected gross premium surplus lines tax for the preceding calendar year. The surplus lines tax levied by the Commonwealth of Pennsylvania is three percent (3%) of taxable gross […]
Maryland Issues Bulletin on Student Health Plan Form and Rate Filing for 2025-2026 School Year
MD| Bulletin 25-2 from the Maryland Insurance Administration, dated January 3, 2025, provides guidance for insurers regarding form and rate filing requirements for student health benefit plans for the 2025-2026 school year. The bulletin outlines: Click here to read full Bulletin 25-2
Colorado Announces Changes to Reinsurance Payment Process for Plan Year 2024
CO| Colorado Division of Insurance issues Bulletin B-4.145 to inform health insurance carriers participating in Colorado’s state-based reinsurance program about changes to the reinsurance payment process for Plan Year 2024. Specifically, the Division of Insurance (Division) will issue preliminary reinsurance payments to carriers by January 17, 2025, based on data available to the Division as […]
Oregon Repeals Rules for Calculating Out-of-Network Provider Reimbursement Rates
OR | The Oregon Division of Financial Regulation (DFR) has announced that three rules have been repealed due to the statutory authority for their enactment expiring. Click here for more information.