The Idaho Department of Insurance has changed the Insurance Administrators chapter of the Idaho Insurance Code to bring Idaho into compliance with the National Association of Insurance Commissioners model act on third-party administrators (TPAs).
Under the new law, all TPAs doing business in Idaho must either be registered with or licensed by the Department of Insurance. TPAs that do business only with self-funded employer plans that are not regulated by the Department do not need to be licensed by the Department, but must register with the Department by completing and submitting a one-page registration form. No fee is required for registration; the form is available from the Department’s Web site. All other TPAs operating in Idaho must be licensed with the Department. The new law has a retroactive effective date of Feb. 1, 2010.
Supervisor of Consumer Affairs Gina McBride, who oversees this section of the Code, said “This measure will streamline licensing for nonresident administrators if they are currently licensed in their home state and their home state has adopted the model act.”
For information on the licensing and registration process, TPAs are encouraged to go to the Department’s Web site, www.doi.idaho.gov, and find Third Party Administrators under Licensing Services.
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