The bill seeks to amend the Arkansas Insurance Code through the State Insurance Department's General Omnibus Amendment, introducing significant changes to the Arkansas Workers' Compensation Insurance Plan and the Arkansas Comprehensive Health Insurance Pool. It grants the Insurance Commissioner the authority to delegate responsibilities for the Workers' Compensation Insurance Plan, contingent upon prior approval. The bill also clarifies bond requirements for attorneys representing reciprocal insurers and modifies service of process regulations for lawsuits involving insurers. Notably, it repeals the Comprehensive Health Insurance Pool Act and the minimum benefits for mental illness in group accident and health insurance policies, while amending the Arkansas Mental Health Parity Act of 2009 to enhance coverage for alcohol and drug dependency treatment.

Additionally, the bill revises eligibility criteria for the Arkansas Comprehensive Health Insurance Pool, removing specific references to group health plans, Medicare, and medical assistance as qualifying factors. It establishes a Board of Directors to oversee the pool's operations and emphasizes the need for applicants to demonstrate rejection from other insurers due to medical conditions. The bill also addresses preexisting conditions, allowing certain individuals to avoid exclusions if they apply within 30 days of involuntary termination from previous coverage. Furthermore, it updates definitions related to mental health and substance use disorder benefits, ensuring parity with other medical services and compliance with the Mental Health Parity and Addiction Equity Act of 2008. Overall, the bill aims to streamline operations, enhance access to health insurance, and improve mental health coverage standards in Arkansas.

Statutes affected:
HB 1420: 23-67-304(e), 23-70-110(a), 23-79-139, 23-79-205(a)