The bill amends the Unfair Claims Settlement Practices Act by modifying Section 1250.5 of Title 36 of the Oklahoma Statutes. 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 two months for claimants and from eighteen months to four months for healthcare providers. Additionally, the bill clarifies that certain provisions related to health benefit plans are exclusive and outlines specific acts by insurers that constitute unfair claim settlement practices, such as failing to disclose pertinent information to claimants and denying claims without proper justification.

The bill also emphasizes the importance of maintaining a complete record of complaints received by insurers over the past three years and mandates that insurers provide written reports detailing the medical necessity of denied claims. The effective date for these changes is set for November 1, 2025. Overall, the bill aims to enhance consumer protections in the insurance claims process by ensuring timely communication and fair treatment of claimants.

Statutes affected:
Introduced: 36-1250.5