Posts by: Britney Han

Bright Health Will No Longer Offer Individual Health Plans to Oklahomans in 2023

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
October 24, 2022

Bright Health Will No Longer Offer Individual Health Plans to Oklahomans in 2023

 

OKLAHOMA CITY – Bright Health will stop offering individual health plans in 2023 in all the Affordable Care Act (ACA) markets across the country. In Oklahoma, roughly 14,000 people in Oklahoma, Canadian and Cleveland counties will be impacted by this decision. The Oklahoma Insurance Department (OID) has been monitoring the company’s activities and ensures consumer protection is its top priority.

Earlier this year, members enrolled in impacted plans received a letter from Bright Health informing them that the company was exiting the Oklahoma market in 2023. For more details regarding Bright Health’s decision, please read their press release or visit www.brighthealthgroup.com.

Coverage Remains Effective for the Remainder of Plan Year 2022 

Bright Health members can continue to use their health insurance through the end of this year. Members need to continue to pay premiums through the end of 2022 to maintain access to their health insurance benefits and coverage. Members can contact Bright Health member services at 855-827-4448 with any questions or concerns. If you experience difficulties working with the company, please contact the OID at 800-522-0071 or visit www.oid.ok.gov. 

New Coverage for Bright Health Members in 2023 

The Centers for Medicare and Medicaid Services (CMS) will move all Bright Health memberships to other companies in the Oklahoma ACA Market using automatic enrollment procedures effective January 1, 2023. Consumers can keep their auto-assigned plan or select another insurance company during the open enrollment period from November 1, 2022, through January 15, 2023. While the auto-assigned plans closely match the benefit plans consumers have with Bright Health, the cost and benefits of these plans will vary. All Bright policyholders will receive a notification about pricing and benefit information regarding their new plans.

If you have questions, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Chief of Communications, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

BULLETIN NO. 8-2022

   |   By  |  0 Comments

Oklahoma Insurance Department

BULLETIN NO. 8-2022

To: All Health Insurance Companies and Other Interested Parties
Re: Enhanced Cash Surrender Value Programs
From: Glen Mulready, Insurance Commissioner
Date: October 19, 2022

 

The Oklahoma Insurance Department (“Department”) is releasing this bulletin with the purpose of providing its position on endorsements offering enhanced cash surrender value (“ECSV”) benefits.

Oklahoma adopted the National Association of Insurance Commissioners (“NAIC”) Model Standard Nonforfeiture Law (Model #808), codified at 36 O.S. § 4029. The Standard Nonforfeiture Law contains a smoothness requirement in that intends to require a reasonably orderly progression in the cash value of life insurance policies and prohibits sharp increases in the same. See 36 O.S. § 4029(L). The smoothness requirement, applied in addition to mandated minimum values, serves to avoid erratic cash values and the offering of discontinuous benefits.

There is an ongoing and increasing concern that ECSV endorsements offered to policyholders of universal life insurance policies conflict with the smoothness requirement and are therefore in violation of the Standard Nonforfeiture Law. In order to relieve this concern, the Insurance Commissioner has requested that the NAIC Life Insurance and Annuities (A) Committee and NAIC Life Actuarial (A) Task Force clarify whether the ECSV endorsements violate the Standard Nonforfeiture Law. The National Council of Insurance Legislators (“NCOIL”) is also reviewing this matter.

ECSV endorsements filed by life insurers with the Department in the past were approved for use. However, until clarification on the Standard Nonforfeiture Law’s impact on such endorsements is received, future ECSV endorsement filings will not be approved by the Department.

Questions concerning this bulletin should be directed to Kim Hunter, General Counsel, at kim.hunter@oid.ok.gov, Molly Clinkscales, Assistant General Counsel, at molly.clinkscales@oid.ok.gov, and/or the Oklahoma Insurance Department located at 400 NE 50th Street, Oklahoma City, OK 73105-1816.

Commissioner Mulready Receives Autism Speaks’ Public Service Award

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
October 19, 2022

Commissioner Mulready Receives Autism Speaks’ Public Service Award

 

OKLAHOMA CITY – Insurance Commissioner Glen Mulready was recognized earlier this month with the 2022 Public Service Award presented by Autism Speaks, a national nonprofit organization dedicated to improving the lives of those affected by autism.

Autism Speaks’ Director of State Government Affairs Christa Stevens, Vice President of Government Affairs at Council of Autism Service Providers Judith Ursitti and Tara Hood, a parent of two children with autism and a long-time volunteer advocate for the Oklahoma autism community, presented the award.

“We are honored to recognize Commissioner Mulready with an Autism Speaks’ 2022 Public Service Award,” Stevens said. “Using his experience as an insurance professional, state legislator and now a regulator, Commissioner Mulready has applied his deep understanding of the current insurance landscape to ensure compliance with required coverage for autism therapies and treatments. His leadership will make a lifetime of difference for Sooner families.”

“I am humbled to receive this award and pleased to share this honor with the team at OID,” Mulready said. “I’d like to acknowledge our Legal and Consumer Assistance Divisions for their hard work and dedication to protecting all Oklahomans.”

Commissioner Mulready is selected for this award for his exceptional contributions to the autism community in Oklahoma in several ways over the past couple of years. In particular, the Life and Health Bulletin No. 2021-03 he issued last year helped knock down significant barriers to individuals with autism getting access to evidence-based treatments to help with the challenges caused by autism.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

From left to right are Christa Stevens, Insurance Commissioner Glen Mulready, Judith Ursitti and Tara Hood on October 13, 2022. Oklahoma Insurance Department, Oklahoma City, Oklahoma.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Get Ready for Fire Prevention Week: Prepare Your Home This Fall Season

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
October 10, 2022

Get Ready for Fire Prevention Week:
Prepare Your Home This Fall Season

By Oklahoma Insurance Commissioner Glen Mulready

After a long summer of fun in the sun, the fall season has finally arrived in Oklahoma. Fall brings cool, crisp weather and beautiful colors. It also brings new hazards and risks along with falling leaves and cooler temperatures. While it’s nice to warm up next to a fire or with a heated blanket, it’s important to understand the risks involved. Home fires and related injuries increase in the fall with the use of candles, space heaters, stoves for cooking and fireplaces to keep warm. 

As we ease into the colder months and get ready for Fire Prevention Week, now is a great time to make sure your home heating system is working properly, and that you understand the importance of seasonal inspections. Proper maintenance protects your family from avoidable fire dangers and protects all of Oklahoma from fire disasters and increasing insurance rates. Last year, insurance companies paid out over $1.3 billion in claims for fire-related damages nationwide.

During Fire Prevention Week, I’d like to share helpful reminders to Oklahomans on fire safety. Here are a few simple tips to help you protect your family and property as you crank up the heat.

Inside Your Home 

  • Make sure your smoke and carbon monoxide detectors are working properly. 
  • Clean fireplaces and chimneys. 
  • Install fire extinguishers in your home. 
  • Keep flammable objects away from furnaces, fireplaces and other heating units. 
  • Never leave burning candles or items on the stove unattended. 
  • Never use a range or an oven as a supplemental heating device. Not only is it a safety hazard, but it can also be a source of potentially toxic fumes. 


Outside Your Home 

  • Remove dead leaves and other debris around the house and from the roof.
  • Clean or replace the furnace filter and clean the entire furnace area to remove debris. 
  • Have heating units inspected by a licensed contractor. 
  • Never discard hot ashes near the home. Place them in a metal container outside and well away from the house.

Many fire departments, including Oklahoma City and Tulsa, offer free smoke detectors, batteries and installation to residents who request it. It’s a product that can save your life, so I strongly encourage you to get it installed. After learning these safety tips, I hope we can all remain safe and healthy while enjoying the fall season without any fires. 

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Insurance Department Announces Health Plans Participating in the 2023 Oklahoma Marketplace

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
October 4, 2022

Insurance Department Announces Health Plans Participating in the 2023 Oklahoma Marketplace

 

OKLAHOMA CITY – The Oklahoma Insurance Department today announced that seven health insurance companies will offer plans in the Oklahoma Affordable Care Act (ACA) Marketplace for 2023. The 2023 ACA Open Enrollment Period for individual health insurance plans runs from November 1, 2022, through January 15, 2023.

Seven insurers that offered individual health plans on the 2022 Oklahoma Marketplace will return for 2023 — Blue Cross Blue Shield of Oklahoma (BCBSOK), Medica Insurance Company, Oscar Health, UnitedHealthCare (UHC), CommunityCare Oklahoma (CCOK), Ambetter of Oklahoma and Friday Health Plans. BCBSOK and Medica offer statewide plans while the other carriers’ plans will be available in selected counties in Oklahoma.

“Insurance company’s participation in the Oklahoma Marketplace is an indicator of a stable, competitive market,” Oklahoma Insurance Commissioner Glen Mulready said. “I strongly encourage those seeking health insurance to visit healthcare.gov to check out their coverage options and enroll in a plan that truly meets their needs.”

Premium will increase by 8-10% on average, reflective of rising prices in the health services sector. Premium increases will vary by plan based on the benefits included in each plan. Premium subsidies remain in place, along with a 3 year extension (2023-2025) of the ARPA eligibility enhancement by the passage of the Inflation Reduction Act.

Plan options, monthly premiums and total annual out-of-pocket costs for 2023 will be available at www.healthcare.gov/see-plans/ later this month upon release of this information by the Centers for Medicare and Medicaid Services.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Oklahoma Insurance Department’s Eli Snowbarger Named President of Society of Financial Examiners

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
September 21, 2022

Oklahoma Insurance Department’s Eli Snowbarger Named President of Society of Financial Examiners

 

OKLAHOMA CITY – The Oklahoma Insurance Department’s (OID) Chief Financial Examiner Eli Snowbarger has been elected president of the Society of Financial Examiners (SOFE). As president, Snowbarger is charged with presiding at all meetings, including the Board of Governors and the Executive Committee. In addition, the president establishes the broader SOFE leadership team by appointing all committee chairs and members.

As the Chief Financial Examiner at OID, Snowbarger monitors the financial solvency of the insurers in the state of Oklahoma. He works closely with SOFE to establish, maintain and update the regulatory framework necessary for consistent insurance regulation within the country. Over the years, Snowbarger has served in various capacities at SOFE.  These positions include but are not limited to leadership roles in nominations, marketing, and the planning and execution of SOFE’s annual Career Development Seminar.

“It is an honor to serve as the Society of Financial Examiners president. I cherish the opportunity to contribute to this organization which plays a meaningful role in the ongoing development of insurance regulation across the nation,” Snowbarger said.

“Eli’s new role at SOFE is well deserved,” Oklahoma Insurance Commissioner Glen Mulready said. “We are fortunate to have an individual as dedicated and accomplished as Eli to take on this new responsibility and to help ensure Oklahoma is well represented in the financial examiners’ space.”

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Life Insurance Awareness Month 2022: It’s Time to Get It Done

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
September 19, 2022

Life Insurance Awareness Month 2022:
It’s Time to Get It Done

By Oklahoma Insurance Commissioner Glen Mulready

Most people understand the importance of life insurance. However, many of them still do not have life insurance because they assume it’s complex, scary and expensive. If life insurance has been on your to-do list for years, but you’ve been putting it off because of the misinformation about the price and application process, it’s time to get it done. Getting life insurance is easier than ever and more affordable than you think. It’s the easiest way to protect your loved ones financially.

September is Life Insurance Awareness Month. I highly encourage Oklahomans to take this time to talk to their insurance agent and their family about life insurance. Please take a look at the details of what your policy covers and what it doesn’t. Walk through with your family everything they will need to know when you pass away. If you are still hesitant to buy life insurance, here are three reasons you should consider life insurance today:

  1. Simplified Process
    Many life insurance policies require you to get a medical exam. Over the past couple of years, insurance companies have made this process easier. In some cases, you can apply for life insurance without a medical exam and still get the coverage you need.
  1. Lower Cost
    Your age and health are two of the biggest factors affecting the cost of your life insurance policy. In general, you’ll pay less the younger and healthier you are. The longer you wait to buy it, the more expensive it gets. For most policies, premiums will be locked in at that rate over the policy’s life and cannot be raised due to a change in health status.
  1. Peace of Mind for Your Loved Ones
    According to the Life Happens’ recent survey “Tough Talks During COVID-19”, half (49%) of respondents agreed that having open conversations with their partners and families about their financial future is essential. Additionally, it’s helped two-thirds (66%) of Americans better understand life insurance’s value, with another quarter (25%) buying coverage for the first time.

For more information about life insurance: https://www.oid.ok.gov/life-insurance/.

If you have insurance-related questions or issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

2023 Medicare Open Enrollment Period: Free Webinar Series Available for Oklahomans

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
September 19, 2022

Get Ready for 2023 Medicare Open Enrollment Period: Free Webinar Series Available for Oklahomans

 

OKLAHOMA CITY – The Oklahoma Insurance Department (OID) will host its annual Medicare Open Enrollment webinars every Tuesday in October. This 4-week webinar series will highlight different parts of Medicare, eligibility, enrollment options and how beneficiaries can personalize their Medicare plan based on their needs.

Webinars will take place on October 4th, 11th, 18th and 25th from 10 a.m. to 11 a.m. The sessions will be led by expert speakers from the Oklahoma Medicare Assistance Program (MAP) and the Centers for Medicare & Medicaid Services. Participants can sign up for one or all four webinars. Each webinar is free, but registration is required.

“We are committed to making Medicare Open Enrollment less confusing and frustrating for Oklahomans,” MAP Director Ray Walker said. “MAP offers one-on-one counseling and information available in both English and Spanish. All services are free, unbiased and confidential.”

In addition to the staff counselors within the department, MAP contracts with several agencies around the state to provide the same types of Medicare education and support. You can find a list of these agencies at www.map.oid.ok.gov.

Schedule of the 2023 Medicare Open Enrollment Webinar Series:

  • October 4 at 10 a.m. — Medicare Advantage Plans
  • October 11 at 10 a.m. — Medicare Marketing Guidelines
  • October 18 at 10 a.m. — Medicare Part D: Prescription Drug Plans
  • October 25 at 10 a.m. — Medicare Current Topics & Coordination of Benefits

To register or for more information, visit www.oid.ok.gov/2023-moep/.

If you have questions about other insurance issues, contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov.

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Oklahoma Insurance Department Successfully Hosts Inaugural Oklahoma Captive & Insurance Business Transfer Conference

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
August 29, 2022

Oklahoma Insurance Department Successfully Hosts Inaugural Oklahoma Captive & Insurance Business Transfer Conference

 

OKLAHOMA CITY – The Oklahoma Insurance Department (OID) successfully hosted the inaugural Oklahoma Captive & Insurance Business Transfer (IBT) Conference in Oklahoma City. The two-day conference was held at the Omni Oklahoma City Hotel on August 24-25 and attracted a total of 287 attendees with more than 40 percent traveling to Oklahoma City from other states and the United Kingdom.

“I am proud of our team for hosting this important conference,” Insurance Commissioner Glen Mulready said. “By every measure—from the number of attendees, the number of companies and state insurance departments represented, the quality of both the social events and educational sessions, and the brand new hotel located in the heart of Oklahoma City downtown —the conference was a huge success. We have received nothing but positive feedback.”

The conference covered all aspects of captive insurance and IBTs featuring 27 industry expert speakers and nine educational sessions. The keynote speakers included Oklahoma Governor Kevin Stitt and fellow regulators from around the country. The event showcased the success of Oklahoma’s first-in-the-nation IBT transactions and examined the increasing number of captive companies choosing to domicile in the state.

“I believe innovation like IBT and Captive can bring an economic boost to our state, security to consumers and reliability and finality to the insurance industry. This conference was able to examine these cutting-edge mechanisms and showcase what we can do,” Commissioner Mulready added.

Highlights and photos from the conference can be found at www.oid.ok.gov/CIBTC.

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221

Back-To-School Insurance Tips 

   |   By  |  0 Comments

Oklahoma Insurance Department

For Immediate Release:
August 17, 2022

Back-To-School Insurance Tips

By Oklahoma Insurance Commissioner Glen Mulready

 

Summer is coming to an end, and the beginning of the new school year is around the corner. As the parent of two college students and one who recently graduated, I understand how exciting this time is for students and parents. Whether you are a recent high school graduate going into college or a nervous parent getting ready for your child’s first day, it is important to review your insurance policies to make sure your entire family is properly covered.

During this busy time of year, I want to remind Oklahomans that having proper insurance can provide greater peace of mind all year long and protect their family from financial disaster. Here are some insurance tips parents and students should consider before heading to school.

Home

If your student is moving into a dorm room, your homeowners policy will likely cover their belongings in case of a loss. Ask your child to let you know if they buy a new computer or other pricey items. You’ll need to check with your insurance company to ensure your coverage will take care of these things.

Students living off-campus should consider renters insurance. This coverage will protect students’ belongings and protect them if someone is injured on the property. Premiums for renters insurance range between $15-$30 a month, depending on the location and size of the rental unit and the value of the possessions. Whether they live on campus or off-campus, a home inventory is a good idea. The list of items will make a future insurance claim quicker and easier to settle.

Auto

Oklahoma requires every car to have auto liability coverage or otherwise meet the financial responsibility requirements of Oklahoma law. Auto liability insurance pays for property damage and bodily injury to someone else if you are found responsible for an accident, up to the policy’s limits. If the title to the car is in your student’s name, they will have to have their own policy. If your college student is driving a vehicle you own, your child can likely stay on your policy.

If your student is heading to college without a vehicle, you might be eligible for a “student away at school” car insurance discount. Check with your insurance agent or insurance company and let them know where the car will be stored if the address differs from what’s on the policy.

Health

Students have several options for health insurance coverage while away at college. If your children are covered under your insurance now, chances are they will still be covered while away at school. Any insurance plan that offers dependent coverage must make that available until the dependent is 26.

Many colleges and universities also offer their own student health insurance plans. The premiums and features vary widely from school to school. Check with your student’s school health center to see available coverage options.

Denied Insurance Claims

If your family experiences a claim denial or settlement disagreement, you can file a complaint at oid.ok.gov. The Oklahoma Insurance Department’s Consumer Assistance team serves to mediate claims between policyholders and insurance companies.

If you have questions about other insurance issues, please contact the Oklahoma Insurance Department at 1-800-522-0071 or visit our website at www.oid.ok.gov. 

 

Questions or comments should be directed to
Communications Director, Liz Heigle
Liz.Heigle@oid.ok.gov | (405) 819-2221