Insurance Revisions

HB 385 modifies stop-loss insurance rules for small employers with 15 or more enrolled employees. It requires contracts to include minimum annual cost thresholds ($30,000 specific attachment point, 90% aggregate attachment point) and prohibits insurers from selling to employers with fewer than 15 employees. The bill also bans direct payments to employees and requires existing contracts renewed before July 1, 2025, to comply by July 1, 2027. It takes effect July 1, 2025, with no new funding.