The bill amends the Unfair Claims Settlement Practices Act in Oklahoma, specifically targeting the actions of insurers that constitute unfair claim settlement practices. Key changes include a reduction in the allowable time for insurers to request refunds from claimants and healthcare providers, decreasing the period from twelve months to six months for claimants and from eighteen months to twelve months for healthcare providers. Additionally, the bill clarifies that insurers must maintain a complete record of complaints received over the past three years and outlines specific requirements for insurers regarding the denial of claims based on medical necessity.

The bill also emphasizes the importance of timely and fair claim settlements, requiring insurers to provide written reports detailing the reasons for denying claims related to medical necessity. It mandates that these reports be sent to claimants and relevant healthcare providers within fifteen days of a request. The act is set to take effect on November 1, 2025, following its passage in the Senate on March 27, 2025.

Statutes affected:
Introduced: 36-1250.5
Floor (House): 36-1250.5
Floor (Senate): 36-1250.5
Engrossed: 36-1250.5
Enrolled (final version): 36-1250.5