Minnesota Legislature
Bill would bring state into compliance with national insurance standards
By Lee Ann Schutz
The National Association of Insurance Commissioners sets national standards and oversees insurance regulations. HF3489 would modify minimum solvency requirements around risk-based capital for health insurers and other selected providers.
Sponsored by Rep. Jenifer Loon (R-Eden Prairie), enactment of the bill is needed so the state’s accreditation with the organization remains intact.
The bill passed the House 96-33 Friday. It now moves to the Senate where Sen. Jim Carlson (DFL-Eagan) is the sponsor.
According to her committee testimony, last summer Minnesota was one of four states found not to be in compliance with the NAIC modal acts.
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