Tennessee House Bill HB1304

Tennessee 2025-2026 Regular Session

• Introduced: 2/6/25
• Refer: 2/12/25
• Refer: 3/5/25
• Refer: 3/12/25
• Chaptered: 5/2/25
• Passed: 5/2/25

Caption

AN ACT to amend Tennessee Code Annotated, Title 56 and Section 68-1-115, relative to insurance.

Impact

If enacted, HB1304 would significantly impact state laws governing insurance practices by forcing issuers to furnish detailed claims experience reports within a specified timeframe after requests. This could lead to an overall improvement in the management and operational understanding of health benefit plans, as entities involved in managing or providing these plans will be better equipped with data they can analyze and respond to. The amendments to the Tennessee Code would establish clearer guidelines for the insurance sector, potentially leading to more competitive practices among providers, and ultimately benefiting consumers through better informed choices.

Summary

House Bill 1304 aims to amend Tennessee Code Annotated, specifically targeting insurance regulations related to claims experience reporting. The bill introduces requirements for health benefit plan issuers, mandating them to provide detailed claims experience reports to plan sponsors or administrators upon request. This includes information on aggregate paid claims, premiums earned, and the number of covered employees, ensuring transparency and allowing for better decision-making among stakeholders in health insurance plans. The proposed changes seek to standardize how claims experience data is communicated, enhancing accountability within the insurance market.

Sentiment

The legislative sentiment surrounding HB1304 appears to be cautiously optimistic. Supporters within the insurance sector and regulatory bodies view it as a step toward greater transparency and fairness in the insurance market. However, there may also be concerns from some stakeholders regarding the administrative burdens that could accompany the compliance with these new requirements. Overall, the bill has garnered attention for its potential to reshape the insurance reporting landscape in Tennessee, reflecting a wider trend towards demanding accountability and better data sharing in the healthcare sector.

Contention

While the bill seems to have the backing of various stakeholders in the insurance community, some possible points of contention exist. Detractors could argue that the financial implications of additional reporting requirements might dissuade smaller insurance companies from entering or remaining in the market. Additionally, there are concerns regarding the potential cybersecurity risks involved in sharing sensitive claims data, which could provoke debate about the balance between transparency and privacy.