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HF 2486

as introduced - 85th Legislature (2007 - 2008) Posted on 12/15/2009 12:00am

KEY: stricken = removed, old language.
underscored = added, new language.
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Bill Text Versions

Engrossments
Introduction Posted on 05/14/2007

Current Version - as introduced

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A bill for an act
 relating to insurance; requiring prior approval of evidence-based underwriting
standards based upon life insurance applicants having received mental health
care; amending Minnesota Statutes 2006, section 72A.20, subdivision 19.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:

Section 1.

Minnesota Statutes 2006, section 72A.20, subdivision 19, is amended to
read:


Subd. 19.

Support for underwriting standards.

new text begin (a) new text end No life or health insurance
company doing business in this state shall engage in any selection or underwriting
process unless the insurance company establishes beforehand substantial data, actuarial
projections, or claims experience which support the underwriting standards used by
the insurance company. The data, projections, or claims experience used to support
the selection or underwriting process is not limited to only that of the company. The
experience, projections, or data of other companies or a rate service organization may be
used as well.

new text begin (b) An insurance company may not use any life insurance selection or underwriting
standard or process based upon an applicant having received mental health care, unless the
life insurance company has applied for and obtained approval of the standard or process
by the commissioner prior to its use. The commissioner's approval or disapproval must
be based upon whether the selection or underwriting standard or process complies with
paragraph (a). For purposes of this paragraph, "mental health care" includes use of
prescription medications prescribed for mental health treatment.
 new text end

new text begin (c) An insurance company may use a life insurance selection or underwriting
standard or process described in paragraph (b) only to determine the premium rate and
shall not reject an applicant for coverage.
 new text end

new text begin EFFECTIVE DATE. new text end

new text begin This section is effective January 1, 2009, and applies to
policies issued on or renewed after that date.
 new text end