Iowa 2025-2026 Regular Session

Iowa House Bill HF911

Introduced
3/10/25  

Caption

A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.(Formerly HSB 256; See HF 986.)

Impact

In addition to promoting financial literacy, HF911 introduces measures regarding tax confidentiality. It stipulates that tax returns related to insurance premiums shall not be publicly accessible, emphasizing privacy for the entities involved. The bill imposes severe penalties on state employees for disclosing such information, which aims to reinforce the security of sensitive financial data. This aspect of the bill has generated debate on balancing transparency in government operations with the privacy rights of individuals and companies.

Summary

House File 911 seeks to improve financial literacy and combat financial exploitation. The bill establishes two funds: the financial literacy and investor education fund and the financial exploitation prevention fund. A portion of fees collected from applications related to real estate agents will be allocated to these funds. Initiatives funded by the bill will focus on developing educational resources for the public to enhance understanding of financial issues and prevention strategies against exploitation. The commissioner of insurance is tasked with overseeing these initiatives to ensure their effective implementation.

Contention

Another significant component of HF911 relates to health insurance, allowing public hearings for proposed rate increases that exceed certain growth thresholds. Critics argue that this change could reduce oversight and limit the public's ability to question the rationale behind substantial rate hikes. Additionally, the bill addresses the insurance market's stability by establishing rules for companies planning to withdraw from sectors—requirement for withdrawal plans could lead to more strategic business decisions by insurers whilst ensuring consumers are not left without coverage unexpectedly.

Companion Bills

IA HSB256

Related A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.(See HF 911, HF 986.)

IA SSB1194

Related A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.

IA HF986

Similar To A bill for an act relating to matters under the purview of the department of insurance and financial services, the utilities commission, and the department of transportation, including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, service contracts, the Iowa individual health benefit reinsurance association, and the Iowa cemetery Act, motor vehicle financial liability coverage, and including penalties and effective date provisions. (Formerly HF 911, HSB 256.)

Previously Filed As

IA HF566

A bill for an act relating to bodies of the state governmental structure under the purview of the department of health and human services. (Formerly HF 386.)

IA HF2509

A bill for an act relating to the transition of behavioral health services from a mental health and disability services system to a behavioral health service system, and the transfer of disability services to the division of aging and disability services of the department of health and human services, making appropriations, and including effective date provisions.(Formerly HSB 653; See HF 2673.)

IA SF2360

A bill for an act relating to the use of genetic information provided to an insurer that offers health insurance, disability insurance, life insurance, or long-term care insurance.(Formerly SSB 3138.)

IA SF509

A bill for an act relating to captive insurance companies, and including applicability provisions.(Formerly SF 424; See SF 549.)

IA HF685

A bill for an act relating to health care services and financing, including nursing facility licensing and financing and the Medicaid program including third-party recovery and taxation of Medicaid managed care organization premiums. (Formerly HF 525, HSB 177.) Effective date: 07/01/2023.

IA HSB554

A bill for an act relating to the insurance commissioner's authority concerning insurance producers, business entity producers, and preneed sellers.(See HF 2263.)

IA HSB601

A bill for an act relating to money transmission services, providing penalties, and including effective date and retroactive applicability provisions.(See HF 2262.)

IA HF2492

A bill for an act relating to insurance coverage for biomarker testing.(Formerly HF 2157; See HF 2668.)

IA HSB539

A bill for an act relating to the use of genetic information provided to an insurer that offers health insurance, disability insurance, life insurance, or long-term care insurance.

IA HSB653

A bill for an act relating to the transition of behavioral health services from a mental health and disability services system to a behavioral health service system, and the transfer of disability services to the division of aging and disability services of the department of health and human services, making appropriations, and including effective date provisions.(See HF 2509, HF 2673.)

Similar Bills

IA HF986

A bill for an act relating to matters under the purview of the department of insurance and financial services, the utilities commission, and the department of transportation, including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, service contracts, the Iowa individual health benefit reinsurance association, and the Iowa cemetery Act, motor vehicle financial liability coverage, and including penalties and effective date provisions. (Formerly HF 911, HSB 256.)

IA HSB256

A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.(See HF 911, HF 986.)

IA SSB1194

A bill for an act relating to matters under the purview of the department of insurance and financial services including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, and service contracts, and including penalties.

IA SF619

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and applicability provisions. (Formerly SF 591, SSB 1188.) Effective date: 04/22/2025, 07/01/2025. Applicability date: Conditional, 01/01/2024.

IA SSB1188

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(See SF 591, SF 619.)

IA HSB246

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(See HF 957, HF 982, HF 1012.)

IA HF982

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly HF 957, HSB 246; See HF 1012.)

IA HF1012

A bill for an act relating to the natural hazard mitigation financing program, the disaster recovery housing assistance program, the disaster recovery new housing program, post-loss assignment of benefits, the licensing and regulation of adjusters, appraisers, and umpires, and the Iowa economic emergency fund, and providing penalties, making appropriations, and including effective date and retroactive applicability provisions.(Formerly HF 982, HF 957, HSB 246.)