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Senate Finance chair brings insurers back to refine HB 1491 after pool-design concerns
Summary
Committee chair said insurers drafted HB 1491 for an assessable pool; changing to a non-assessable pool alters key provisions, so insurers will rework language and return next week as the committee continues executive-session work on the measure.
Chair opened executive session by flagging HB 1491 as the committee’s primary work item and said he had met with the insurance company that drafted the original sections. "First thing I'm gonna talk about is h b, 14 91," he said, describing a briefing the insurers prepared and their view that the draft assumed an assessable pool rather than the non-assessable pool now contemplated.
The chair said that distinction "changes a lot of the things that they wanna do," and that insurers are revising language to reflect a non-assessable structure. He said the committee needs a product "that the insurance company can regulate," adding the goal that people paying premiums receive "the insurance that they're promised." The chair said he would bring the insurers back next week to report on revisions.
Committee members did not vote on HB 1491 in executive session; the chair characterized HB 1491 as "the big work item" going forward and linked passage of related measures (he said he did not believe SB 661 would pass unless HB 1491 passes). The session closed with the chair noting a plan to continue work and a routine adjournment after exiting executive session.
Why it matters: HB 1491 would reshape how an insurer-backed pool is structured and regulated. The committee is awaiting insurer revisions to ensure the bill’s draft matches the intended regulatory and coverage outcomes before moving it out of committee for floor action.
What’s next: The chair scheduled the insurers to return next week to present their revisions; no formal committee vote on HB 1491 was recorded during this session.
