The bill seeks to modernize and correct various statutes overseen by the insurance commissioner in Washington State by repealing outdated laws and aligning state policies with federal regulations. Key amendments include a revised timeline for requesting refunds on taxes and fees, allowing tax refunds to be requested within six years and fee refunds within 13 months of payment. The bill also introduces new definitions regarding personal automobile insurance rates for seniors and establishes requirements for charitable gift annuities, specifically mandating the maintenance of minimum net assets without donor restrictions.

In addition to these updates, the bill prohibits insurers from issuing new charitable gift annuities without maintaining the required net assets and ensures that health carriers cannot discriminate against individuals based on health-related factors, including age and gender identity. It mandates coverage for gender-affirming treatments deemed medically necessary and expands coverage for hearing instruments, while also requiring dental-only plans to submit annual data to the commissioner. The bill repeals several outdated statutes related to health insurance market stability and introduces a new section specifying that certain provisions will take effect on January 1, 2026. Overall, the bill aims to enhance consumer protections and streamline the regulatory framework for insurance practices in Washington State.

Statutes affected:
Original Bill: 42.56.400, 48.200.040, 48.19.460, 48.19.501, 48.19.540, 48.37.050, 48.38.010, 48.38.012, 48.43.0128, 48.43.115, 48.43.135, 48.43.743, 48.135.030, 48.02.190, 48.140.050, 48.150.100, 48.160.020
Substitute Bill: 42.56.400, 48.200.040, 48.19.460, 48.19.540, 48.37.050, 48.38.010, 48.38.012, 48.43.0128, 48.43.135, 48.43.743, 48.135.030, 48.02.190, 48.140.050, 48.150.100, 48.160.020