Document dated Mar. 14, 2025, received from IDA LEG Mar. 18, summarized Mar. 20.
Bill Provisions
The bill revises provisions of Idaho Life and health insurance guaranty association act.
Updates to coverage and limitations, definitions, and to revise assessment provisions.
Clarifies that factoring companies and factored transactions are not covered under Act.
Adjusts coverage determinations for high-risk long-term care/other health policies with above-average interest rates to align with standard interest rates company is insolvent
Requires health insurance CO-OPs created under ACA to become association members.
The bill also removes the current annual $300 cap on association membership fees.
Legislative History
On Jan. 22, 2025, bill was introduced in House; on Feb. 12, 2025, bill passed House.
On Feb. 13, 2025, bill was introduced in Senate; on Mar. 5, 2025, bill passed Senate.
On Mar. 14, 2025, bill was signed into law by the governor and assigned Chapter 60.
Effectiveness
Provisions of the bill become effective on Jul. 1, 2025.
Regulators
IDA LEG
Entity Types
Ins
Reference
Act Ch. 60, Bill, HB38, 3/14/2025; Citation: *IDA INS* 41-43-4303, 41-43-4305, 41-43-4309; NAIC Model Law 520;
