IA
Iowa House Bill HF986

Iowa 2025-2026 Regular Session

Iowa House Bill HF986

Caption

A bill for an act relating to matters under the purview of the department of insurance and financial services, and the utilities commission, including financial literacy and exploitation, tax confidentiality, health insurance rates, health savings accounts, insurer withdrawals, property insurance, service contracts, and cross-subsidization of public utilities, and including penalties.(Formerly HF 911, HSB 256.)

Impact

The bill includes provisions for public hearings on health insurance rate increases, shifting certain responsibilities regarding health savings accounts, and establishing withdrawal requirements for insurance companies. By permitting the commissioner of insurance to hold public hearings when health insurance rates exceed average growth, HF986 aims to increase transparency in healthcare costs and provide a platform for public input. Insurers now must submit a detailed withdrawal plan if they plan to significantly reduce premium volumes, which could help maintain stability in the insurance market.

Summary

House File 986 addresses various matters under the jurisdiction of the department of insurance and financial services, primarily focusing on enhancing financial literacy and providing measures to prevent financial exploitation. The bill establishes specific funds dedicated to financial literacy and investor education, indicating a commitment to educate the public about financial management and investment while setting up mechanisms to assist victims of financial exploitation.

Contention

One notable point of contention within the bill is around the confidentiality of tax returns related to insurance, which is reinforced by criminal penalties for unauthorized disclosure by state officials. This move is seen as a tactic to bolster privacy and protection for taxpayers, although critics may voice concerns over transparency and the potential implications for accountability within the Department of Revenue. Additionally, the insurance withdrawal requirements could provoke debates about the balance between protecting consumers and not overly encumbering insurers, impacting market dynamics.

Latest HF986 Activity

Companion Bills

IA HF911

Similar To 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.)

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.

Previously Filed As

IA HF911

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.)

Similar Bills

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 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 HF911

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.)

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.)

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 HF957

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 HSB 246; See HF 982, HF 1012.)

IA SF591

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 SSB 1188; See SF 619.)