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No significant fiscal implication to the State is anticipated.
HB 2507 would require the commissioner of the Texas Department of Insurance (TDI) to adopt rules establishing minimum standards for benefits under short-term limited-duration health insurance plans. The bill would implement new advertising disclosure regulations for short-term limited-duration insurers. The bill would allow the insurance commissioner to by rule prescribe modifications to certain notices. The bill would prescribe the required standards for a policy disclosure form. The bill would prohibit advertising renewal for these insurance plans unless certain conditions are met. The bill prohibits a plan from being terminated by an insurer unless certain conditions are met.
Texas Action recommends opposing HB 2507 as a violation of limited government and free markets by adding onerous new regulation on short-term limited-duration insurance policies. For these reasons we oppose HB 2507.