The bill, HB 499-FN, proposes a series of technical corrections and amendments to existing insurance laws in New Hampshire, primarily aimed at enhancing regulatory clarity and financial stability within the insurance sector. Key changes include modifications to the Managed Care Law's fair value dispute resolution process, specifically removing the 10-day deadline for parties to submit their share of fees to the certified IDR entity. Additionally, licensed insurance companies are now required to provide 120 days' notice to the insurance department and their agents before discontinuing a line of business, ensuring compliance with nonrenewal notice timelines. The bill also clarifies licensing requirements for insurance claims adjusters and updates provisions related to unfair insurance trade practices, prohibiting discrimination based on various factors.

Further amendments raise the minimum paid-up capital for newly organized stock companies from $800,000 to $3,000,000, while ensuring that existing companies maintain capital in line with their original requirements. The bill introduces a non-refundable fee structure for insurance-related applications, with specific amounts set for various services, and modifies the notification process for address changes by licensees to eliminate the accompanying fee requirement. Consumer protections are enhanced by clarifying patient cost-sharing calculations for emergency services and repealing outdated provisions related to consumer guaranty contracts. The bill is set to take effect 60 days after passage, with an effective date of September 13, 2025.

Statutes affected:
Introduced: 420-J:8-e, 402:84, 402-B:1, 405:24, 417:4, 400-A:10, 400-A:36, 402-D:13, 401:4, 405:2, 411:1, 400-A:29, 402-B:7, 402-D:9, 402-J:7, 400-A:29-a
As Amended by the House: 420-J:8-e, 402:84, 402-B:1, 405:24, 417:4, 400-A:10, 400-A:36, 402-D:13, 401:4, 405:2, 411:1, 400-A:29, 402-B:7, 402-D:9, 402-J:7, 400-A:29-a, 420-J:7, 420-J:8-g, 420-J:8-h, 415-C:1, 400-A:31
Version adopted by both bodies: 420-J:8-e, 402:84, 402-B:1, 405:24, 417:4, 400-A:10, 400-A:36, 402-D:13, 401:4, 405:2, 411:1, 400-A:29, 402-B:7, 402-D:9, 402-J:7, 400-A:29-a, 420-J:7, 420-J:8-g, 420-J:8-h, 415-C:1, 400-A:31
CHAPTERED FINAL VERSION: 420-J:8-e, 402:84, 402-B:1, 405:24, 417:4, 400-A:10, 400-A:36, 402-D:13, 401:4, 405:2, 411:1, 400-A:29, 402-B:7, 402-D:9, 402-J:7, 400-A:29-a, 420-J:7, 420-J:8-g, 420-J:8-h, 415-C:1, 400-A:31