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Proposed rules

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Flood Insurance Producer Continuing Education Requirements

Rules affected: OAR 836-071-0215

OAR 836-071-0210 to 836-071-0250 were adopted to implement continuing education requirements in the Insurance Code (ORS 744.072) and to promote trustworthy and competent insurance services for the public by requiring a sufficient number of hours for insurance training.

Insurance producers are currently required to complete 24 hours of continuing education every 2 years. Three of the credit hours must be on the topic of Oregon statutes and administrative rules, and three of the credit hours must be on the topic of professional ethics for insurance producers.

Due to the frequency of statutory, regulatory, and other changes, the National Flood Insurance Program and the private flood insurance market are continually evolving. In order to provide accurate and up-to-date information to consumers, insurance producers need to stay current on changes to flood insurance products and requirements.

The proposed rule would designate two of the credit hours, for producers that sell flood insurance, to be on the topic of current state and federal laws relating to flood insurance, the National Flood Insurance Program, or private flood insurance. It would not increase the total number of continuing education credit hours for any insurance producer.

Filed: May 24, 2018

Public hearing: June 25, 2018 2 p.m.

Last day for public comment: July 2, 2018, 5 p.m.

Documents

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Adoption of requirements for sale of Medicare Supplement plans on or after January 1, 2020

Rules affected: OAR 836-052-0114, 836-052-0119, 836-052-0141, 836-052-0143, 836-052-0144

The federal Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) was signed into law on April 16, 2015. Section 401 of MACRA prohibits the sale of Medicare Supplement policies that cover Medicare Part B deductibles to Medicare benefits that are first eligible for Medicare on or after January 1, 2020.

Because the National Association of Insurance Commissioners (NAIC) is responsible for maintaining the Model Regulation’s conformity to federal statutory standards, the NAIC amended the Model Regulation to Implement the NAIC Medicare Supplement Insurance Minimum Standards Model Act #651 to comply with the change in federal law and developed implementation guidance for states based upon the changes MACRA made to the Medicare Supplement standards.

Federal law requires states to adopt standards that are equal to or more stringent than the NAIC Model Regulation and failure to adopt the MACRA amendments prior to January 1, 2020 may result in federal enforcement of the MACRA standards.

The administrative rules need to be amended in order to provide timely direction to insurers who will need to ensure they are in compliance with MACRA by open enrollment for the 2020 plan year.

Filed: May 31, 2018

Public hearing: June 25, 2018 11 a.m.

Last day for public comment: July 2, 2018, 5 p.m.

Documents

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Where to send comments on proposed rules

Division of Financial Regulation
ins.rules@oregon.gov

Rulemaking advisory committees

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Key links

Oregon Revised Statutes​​​​​​