The bill, HB 499-FN, proposes a series of technical corrections and amendments to New Hampshire's insurance laws, primarily at the request of the insurance department. Key changes include modifications to the Managed Care Law, specifically removing the 10-day deadline for parties to submit their share of fees in the fair value dispute resolution process. It also requires licensed insurance companies to provide 120 days' notice before discontinuing an entire line of business, ensuring compliance with nonrenewal notices to policyholders. Additionally, the bill clarifies licensing requirements for insurance claims adjusters, prohibits discrimination in insurance practices, and updates oversight provisions for independent reviewers.

Further amendments include an increase in the minimum paid-up capital requirement for newly organized stock companies from $800,000 to $3,000,000, and stipulations that companies must cover costs for independent reviews directly, with the option to credit these costs against future administrative assessments. The bill establishes non-refundable fees for various applications and services, modifies existing fee structures, and updates provisions related to managed care laws, particularly concerning cost-sharing for emergency services. It also clarifies definitions related to consumer guaranty contracts and 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