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Committee approves insurer‑reporting bill requiring annual commercial insurer disclosures
Summary
The House Insurance & Commerce Committee voted to pass Representative Lee Johnson’s bill requiring annual financial reporting from commercial health insurers to the Arkansas Insurance Department and to the legislature; advocates and insurers debated the proposal’s need and potential effects on solvency incentives.
Representative Lee Johnson told the committee the bill aims to increase transparency about commercial health insurers’ finances so that regulators and legislators can better evaluate rate increase requests. The committee adopted an amendment and voted the bill out.
Johnson said the measure requires commercial health insurers to file an annual report by March 1 with the Arkansas Insurance Department, including factors such as medical loss ratio and risk‑based capital considerations. The bill would not apply to the state Employee Benefits Division (EBD) because the committee already has access to EBD financial data.
Grant Wall…
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