Around the PIA Western Alliance States – Week of September 30, 2024

California — Education Providers and Other Interested Parties Curriculum and Licensing Background Bureau, the New 2025 Annuity Eight-Hour Course Curriculum:

A new law effective January 1, 2025 will require a new eight hour annuity training. Insurance Commissioner Ricardo Lara sponsored legislation, Senate Bill 263 (Dodd, Chapter 2, Statutes of 2024) related to annuities and life insurance policies, was signed by Governor Gavin Newsom on February 29, 2024, and will take effect on January 1, 2025. SB 263 creates new Article 9.5. “Suitability Requirements for Annuity Transactions on or after January 1, 2025”. Article 9.5 contains new requirements that life agents must comply with when recommending annuities to consumers, including new Insurance Code section 10509.9205(b), which requires life agents who sell annuities to satisfactorily complete an initial one-time eight- hour class and four-hours of annuity training prior to each license renewal. This Notice is specific to the annuity eight-hour training requirement.

2025 Annuity Eight-Hour Training Course Curriculum

Life agents licensed on or after January 1, 2025, must complete this new eight-hour annuity training course prior to soliciting annuity business. Life agents who hold a life line of authority prior to January 1, 2025, must complete the new eight-hour training course before their license renewal, but not later than July 1, 2025. This course supersedes the former Eight-Hour Annuity Training Course.

The California Department of Insurance (Department) recently approved the Commissioner-appointed Curriculum Board’s proposed creation of the new 2025 Annuity Eight-Hour Course Curriculum. This new eight-hour course applies to all California licensees, both resident and non-resident. This requirement shall be part of, and not in addition to, the California resident licensee's continuing education requirement.

Instructions for Submitting Continuing Education Courses

The 2025 Annuity Suitability Eight-Hour Course Curriculum is available on the Department’s Resident – Provider Continuing Education Courses, Outlines and Materials and on the Department’s California Non-Resident – Provider Training Materials webpages.

Effective immediately, continuing education providers submitting a 2025 Annuity Eight-Hour Training Course must submit the following items to the Department:

(1) A completed Prelicensing/Continuing Education Program Course Approval Application, LIC 446-3

(2) A filing fee of $41

(3) Course materials; and,

(4) A document that cross references your training material to the new 2025 Annuity Eight-Hour Course Curriculum for a timely review of your new course.

For questions

Department’s Curriculum Review Section by email at CDI.Education@Insurance.ca.gov or by telephone at (916) 492-3064.

Oregon — DOR won't pursue changes to CAT rule: The Oregon Department of Revenue held several Rules Advisory Committee (RAC) meetings to discuss potential changes to Oregon Administrative Rule (OAR) 150-317-1140 Wholesale Sale of Groceries Exclusion.

The RAC identified challenges faced by Corporate Activity Tax (CAT) taxpayers when complying with the rule. However, the department does not believe it has the authority to implement the rule changes proposed by the RAC. The department will not pursue changes to OAR 150-317-1140 at this time.

Please contact Maribel.Luna@dor.oregon.gov for additional information. 

Washington — 2024 Medical Malpractice Annual Report: In 2006, the Washington state Legislature enacted comprehensive health care liability reform legislation (2SHB 2292) to address a number of concerns, including the cost and availability of medical professional liability insurance. This law also created reporting requirements for medical malpractice claims that are resolved and closed, with the intent to collect data to support policy decisions. The Office of the Insurance Commissioner (OIC) began publishing annual reports in 2010 that summarize the data.

For more information, including a copy of the report, please visit the OIC’s legislative and commissioner reports webpage.

Washington — OIC awarded $620,000 federal grant to boost women’s reproductive and maternal health: Washington state Insurance Commissioner Mike Kreidler announced that his office has received a $620,000 Expanding Access to Women’s Health grant provided by the Centers for Medicare & Medicaid Services (CMS).

The two-year grant provides states with funding to enhance and expand access to reproductive and maternal health coverage and services.

“Understanding and accessing over-the-counter contraceptives is critical to the health, safety and well-being of women in our state,” Kreidler said. “This will help us better inform women of their rights and empower them to advocate for their health and medical needs.”

 The grant asks states to help address disparities in reproductive and maternal health outcomes that are caused by difficulty accessing, or understanding, reproductive health care information. The grant also allows for targeted market conduct examinations to assess insurers’ current compliance with laws and identify any potential changes needed.

The OIC pursued the grant after investigating concerns about coverage of over the counter (OTC) contraceptives. Subsequent surveys indicated that further work was needed to ensure insurers are following Washington state law.

The issues identified included:

    A low number of claims from consumers for over-the-counter contraceptives.

    A trend of increasing claims denials.

    A lack of standardized reimbursement processes for pharmacies to bill insurers for OTC contraceptives.

    Consumers’ difficulty in finding and using reimbursement forms.

The OIC plans to use some of the funds to create educational materials (publications, podcasts, blogs, webinars, or workshops) to help women understand their reproductive health care coverage options and the family planning services available in Washington state.