When we report that there are a lot of bills moving of interest to Big I members, think about this…last week, four insurance bills passed off the House or Senate floor. Thanks in large part to YOUR efforts and the relationships you have built with your local legislators, the insurance industry is in a prominent place where the needs of our industry are being heard by leaders in both chambers.
Below, we have provided an update on the bills that moved last week and what we expect in the week ahead.
These bills need review from Big I kentucky members:
HB 474 - ESG Disclosure - This legislation requires disclosure by investment advisers if the investments being offered follow an ESG policy. Being opposed by SIFMA.
SB 162 - Accident Reports - Sen. Mills bill allowing Carfax to contract with local law enforcement agencies related to accident reports passed from committee on Wednesday with a Committee Substitute to address concerns raised by the industry related to access to accident reports by PIP/legal runners.
HB 470 - Home Solicitation Sales - Exempts products regulated by the DOI from the home solicitation sales regulations.
HB 554 - This measure would allow public universities to opt out of buying coverage from the state Tornado & Fire fund and allow them to access coverage in the private market.
SB 188 - Sen. Wise - This appears to be an omnibus PBM reform bill that would mandate pharmacists dispensing fees in statute, restrict mail order pharmacy, and mandate changes to pharmacy networks. The LRC's financial analysis is not available yet.
HB 190 - Rep. Sharp - This would prohibit or restrict incentives for the use of mail order pharmacy in a group health insurance plan. The LRC's financial analysis says this will increase premiums by as much as $2.55 per member per month.
Connect with Big I Kenyucky President/CEO Tara Purvis at tpurvis@bigiky.org for feedback.