Legislative Bills
Dan Bernier
At this point, it appears that short-term health insurance policies will still be allowed in Maine. However, they will only be allowed to be sold until the next open enrollment period and the disclosures being given will be refined by the legislation. This is LD 1260 which is working its way through the process.
We successfully defeated LD 132 which would have brought Maine to a flat community rating standard in the individual and small group market. There is growing concern over the potential collapse of the small group market, but not a lot of solutions.
LD 1314 An Act to Extend Protection for Genetic Information is going to limit life insurers abilities to use genetic information from some companies that sell tests. There would need to be informed consent and the consent would have to be voluntary for a life insurance company to use those tests. This bill, as amended, was agreed upon as many of the life insurance companies do not consider some of those tests reliable and the committee with jurisdiction over insurance has concerns over how those tests are used.
LD 1704 An Act to Establish a Security Restitutions Assistance Fund for Victims of Security Violations is also working its way through the system. Five dollars ($5.00) from a securities license will go to help fund this restitution fund which is particularly targeting Elder Abuse by professionals in the securities industry.
As the budget debate draws near, the next move is whether to see if the Appropriations Committee will fund LD 625 An Act to Phase out Insurance Premium Tax on Annuities. After the budget passes, they will move to what is known as the special appropriations table. Medicaid expansion will make it difficult to get funding for items on the special appropriations table.
We successfully defeated LD 132 which would have brought Maine to a flat community rating standard in the individual and small group market. There is growing concern over the potential collapse of the small group market, but not a lot of solutions.
LD 1314 An Act to Extend Protection for Genetic Information is going to limit life insurers abilities to use genetic information from some companies that sell tests. There would need to be informed consent and the consent would have to be voluntary for a life insurance company to use those tests. This bill, as amended, was agreed upon as many of the life insurance companies do not consider some of those tests reliable and the committee with jurisdiction over insurance has concerns over how those tests are used.
LD 1704 An Act to Establish a Security Restitutions Assistance Fund for Victims of Security Violations is also working its way through the system. Five dollars ($5.00) from a securities license will go to help fund this restitution fund which is particularly targeting Elder Abuse by professionals in the securities industry.
As the budget debate draws near, the next move is whether to see if the Appropriations Committee will fund LD 625 An Act to Phase out Insurance Premium Tax on Annuities. After the budget passes, they will move to what is known as the special appropriations table. Medicaid expansion will make it difficult to get funding for items on the special appropriations table.