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House Co-Sponsorship Memoranda
House of Representatives
Session of 2015 - 2016
Regular Session
MEMORANDUM
| Posted: | February 23, 2015 08:37 AM |
|---|---|
| From: | Representative Mark Longietti |
| To: | All House members |
| Subject: | Re-Introduction of House Bill 1402 – Insurance Premium Reimbursement |
| In the near future, I intend to re-introduce legislation requiring insurers to refund the balance of any premium paid under a Medicare supplement policy upon receipt of proof from the insured that other coverage has been obtained. Under current Pennsylvania law, insurance companies are not required to refund the balance of premiums when a consumer changes insurance providers in order to save money. As a result, the savings generated by the switch to a different provider are negated by the loss of the premiums paid to the consumer’s previous company. Why should consumers pay for a service or product that was dropped? My legislation amends the Medicare Supplement Insurance Act of 1982 to require insurers to refund the balance of any premium paid under a Medicare supplement policy upon receipt of proof from the insured that other coverage has been obtained. By requiring insurance companies to refund premiums, consumers can realize true savings when changing insurance companies. Please consider joining me in sponsoring this important legislation. Previous Co-Sponsors: COHEN, D. COSTA, HARKINS, FREEMAN, P. DALEY, BOBACK, CALTAGIRONE, THOMAS, SWANGER and EVERETT |
Introduced as HB961