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House committee approves introduction of bill to update Life and Health Insurance Guaranty Association
Summary
The Idaho House Business Committee voted to introduce RS31911, a proposal to limit coverage under the Life and Health Insurance Guaranty Association to original policyholders, clarify long‑term care and interest‑rate adjustments, allow certain ACA co‑ops to join, and delegate member fee caps to the association board.
Representative Jeff Ehlers, R‑Meridian, introduced RS31911 to the House Business Committee on Tuesday, saying the draft updates the Life and Health Insurance Guaranty Association statute to reflect current practices and reduce unintended coverage for speculative investors.
Ehlers said the association functions like the FDIC for life and health policies, protecting consumers if an insurer becomes insolvent, and that the…
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