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2011 SESSION

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HB 720 Health insurance choice; created.

Introduced by: Christopher K. Peace | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Health benefits plans offered by foreign health insurers.  Authorizes health insurers licensed to sell health benefits plans in any other state to sell health benefits plans to residents of the Commonwealth if the foreign health insurer offers the same plans in its domiciliary state, is in compliance with the laws of that state, obtains a certificate of authority to do business in the Commonwealth, and participates in the Virginia Life, Accident and Sickness Insurance Guaranty Association. Foreign health insurers offering such plans in the Commonwealth will be subject to existing provisions regarding unfair trade practices, capital and surplus requirements, and taxes and assessments imposed on domestic health insurers selling individual and group health insurance policies.


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