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Insurance department seeks notice when carriers stop writing lines, citing Medicare Advantage disruption
Summary
Senate Bill 121 would require carriers to notify the New Hampshire Insurance Department if they cease writing an entire line of business or significantly change offerings — a measure prompted by recent disruption in the Medicare Advantage market and by consumer confusion, department officials said.
The House Commerce Committee took testimony on Senate Bill 121, a Department of Insurance–backed bill requiring insurers to notify the department when they plan to stop writing a full line of business or substantially change their offerings.
Grant Bosse introduced the bill on behalf of the prime sponsor, Senator Kevin Avard, saying the measure was filed at the department’s request. DJ Betancourt, commissioner of the New Hampshire Insurance Department, told the committee that the bill stems from “a significant degree of disruption” in the Medicare Advantage market this past year, when several carriers narrowed or withdrew product offerings.
“We were inundated with calls from seniors and brokers asking what’s going on,”…
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