Senate Bill No. 1050 amends the Unfair Claims Settlement Practices Act by modifying the allowable time frame for insurers to request refunds from claimants and healthcare providers. Specifically, the bill reduces the time limit for insurers to request a refund of a claim payment from twelve months to six months for claimants, and from eighteen months to twelve months for healthcare providers. This change aims to streamline the claims process and reduce the burden on claimants and providers regarding refund requests.

Additionally, the bill maintains various provisions that outline unfair practices by insurers, such as failing to disclose pertinent information to claimants, misrepresenting facts, and denying claims without proper justification. 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