IA
Iowa House Bill HSB256

Iowa 2025-2026 Regular Session

Iowa House Bill HSB256

Introduced
2/25/25  

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.(See HF 911, HF 986.)

Impact

One of the significant impacts of HSB256 is the establishment of two new funds: the Financial Literacy and Investor Education Fund and the Financial Exploitation Prevention Fund. The bill allocates $10 from each agent registration fee to these funds, which will be utilized for educational initiatives and to assist victims of financial exploitation. Moreover, the bill introduces penalties for violations related to insurance practices, aiming to enhance compliance and consumer protection.

Summary

House Study Bill 256 (HSB256) is designed to address a wide array of issues pertaining to the Department of Insurance and Financial Services. Key provisions include enhancing financial literacy and preventing financial exploitation, improving tax confidentiality for insurers, regulating health insurance rates, and setting new standards for health savings accounts. The bill aims to create a structured framework to better educate the public about financial matters and provide protective measures for vulnerable populations against financial fraud.

Contention

Debate around HSB256 highlights the tension between increasing regulatory oversight and the potential for stifling innovation within the insurance sector. While supporters laud the efforts to bolster financial education and prevent exploitation, some critics are concerned that stringent regulations could negatively impact service providers, particularly smaller companies. They argue that additional requirements may lead to increased operational costs and decrease market competition.

Latest HSB256 Activity

Companion Bills

IA HF911

Replaced by 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 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

Replaced by 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.)

Similar Bills

IA HF986

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.)

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 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.)