This bill amends Section 41-1315 of the Idaho Code to clarify exceptions to discrimination and rebate provisions in insurance practices. The revised language specifies that certain practices, such as paying bonuses to policyholders, adjusting premium rates based on group insurance experience, and issuing policies at reduced rates, are not considered discriminatory or illegal inducements. New provisions are added to allow insurers to offer value-added products or services at no or reduced cost, provided they relate to the insurance coverage and meet specific criteria aimed at enhancing health, financial wellness, and risk management.

Additionally, the bill introduces a pilot program provision that permits insurers or producers to offer products or services that may not have sufficient evidence of compliance with the new criteria for up to one year, pending notification to the Department of Insurance. The director of the Department of Insurance is also granted the authority to adopt regulations to ensure consumer protection related to these practices. The bill declares an emergency, making it effective on July 1, 2025.

Statutes affected:
Bill Text: 41-1315