Minnesota HF 3836: Long-term disability insurance application disclosure and acknowledgment required.

Bill Text

1.1 A bill for an act​
1.2 relating to insurance; requiring a disclosure and acknowledgment when applying​
1.3 for long-term disability insurance; proposing coding for new law in Minnesota​
1.4 Statutes, chapter 60A.​
1.5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA:​
1.6 Section 1. [60A.43] DISABILITY INCOME COVERAGE; DISCLOSURE.​
1.7 (a) No contract or policy of long-term disability insurance that limits the duration of​
1.8 coverage for mental health or substance use disorders shall be offered in this state without​
1.9 a disclosure, provided at the time of application, that includes the following:​
1.10 (1) a notification that the long-term disability coverage selected by the potential​
1.11 policyholder or plan sponsor limits the duration of coverage for mental health or substance​
1.12 use disorders; and​
1.13 (2) that the potential policyholder or plan sponsor has the right to request more​
1.14 information about the limitation and other coverage options that include an unlimited​
1.15 duration, if available.​
1.16 (b) Receipt of the disclosure described in paragraph (a) must be acknowledged by the​
1.17 potential policyholder or plan sponsor and evidence of the disclosure and acknowledgment​
1.18 must be retained by the insurance company offering such coverage for a period of no less​
1.19 than two years.​
1​Section 1.​
REVISOR RSI H3836-1​HF3836 FIRST ENGROSSMENT​
365​
Printed​
Page No.​State of Minnesota​
This Document can be made available​
in alternative formats upon request​
HOUSE OF REPRESENTATIVES​
H. F. No. 3836​
NINETY-THIRD SESSION​
Authored by Kraft, Feist, Howard, Acomb, Pérez-Vega and others​02/15/2024​
The bill was read for the first time and referred to the Committee on Commerce Finance and Policy​
Adoption of Report: Placed on the General Register as Amended​04/02/2024​
Read for the Second Time​