LB 693 proposes to establish a framework under which health insurance may be purchased and sold across state lines. The Director of the Department of Insurance would have the authority to enter into interstate agreements with other willing states for such purposes. Before entering into an interstate agreement, the director, in consultation with the Attorney General, shall review and certify that the other state’s laws, rules and regulations governing health insurance are substantially similar to Nebraska’s laws, rules and regulations. The director shall also consider whether insured individuals will have access to health care services as well as policies and procedures to resolve benefit, claims and payment disputes. Foreign insurers offering insurance in Nebraska will not be subject to Nebraska laws, with some exceptions, but will be subject to the laws of their domicile state and the interstate agreement. Similarly, insurers domiciled in Nebraska and offering insurance in a foreign state shall be subject to Nebraska laws and the interstate agreement. Any application and policy issued to a Nebraska resident under LB693 would require a disclaimer to notify the applicant/policy holder that the insurance policy is not subject to Nebraska law.

Indefinitely postponed April 14, 2010.

• Banking, Commerce and Insurance

• No amendments of concern

• No additional documents

• No action alerts are associated with this legislation.