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2014 SESSION

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14103843D
HOUSE BILL NO. 1176 Offered January 15, 2014 A BILL to amend and reenact § 38.2-3407.14 of the Code of Virginia, relating to health insurance; notice of increase in premium or deductible. ---------- Patrons-- Ware and Landes ---------- Referred to Committee on Commerce and Labor ----------

Be it enacted by the General Assembly of Virginia:

1. That § 38.2-3407.14 of the Code of Virginia is amended and reenacted as follows:

§ 38.2-3407.14. Notice of premium or deductible increases.

A. Each (i) insurer issuing individual or group accident and sickness insurance policies providing hospital, medical and surgical or major medical coverage on an expense-incurred basis, (ii) corporation providing individual or group accident and sickness subscription contracts, and (iii) health maintenance organization providing a health care plan for health care services, shall provide in conjunction with the proposed renewal of coverage under any such policies, contracts or plans, prior written notice of intent to increase by more than 35 percent the annual premium charged for coverage thereunder or any deductible required thereunder. As used in this section, "deductible" means the dollar amount of a covered item or service that the insured, subscriber, or enrollee is obligated to pay before benefits are payable under the policy, contract, or plan.

B. Notice required by this section shall be provided in writing at least 60 75 days prior to the proposed renewal of coverage under any such policy, contract, or plan to the policyholder, contract holder or subscriber, or to the designated consultant or other agent of the group policyholder, contract holder, or subscriber if requested in writing by the group policyholder, contract holder, or subscriber, as appropriate.