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Bill

H 3362

An Act relative to requiring premium impact statements

194th Legislature (2025-2026) Introduced by Kim Ferguson and 3 co-sponsors

Requires Massachusetts insurers to disclose estimated premium impacts of coverage changes and regulatory actions, increasing transparency in insurance regulation and cost accountability.

Accompanied a study order, see H5169
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Bill Summary · H 3362

Legislative bill overview

H 3362 requires insurers to provide "premium impact statements" that disclose how specific coverage changes, policy modifications, or regulatory actions would affect insurance premiums. The bill mandates transparency by compelling insurers to quantify the financial impact of proposed changes before implementation, giving regulators and the public clearer cost information during the regulatory process.

Why is this important

Insurance premiums significantly affect household budgets and business operating costs. By requiring detailed premium impact statements, the bill aims to make insurance regulation more transparent and data-driven, allowing policymakers to understand the true financial consequences of coverage mandates or regulatory decisions before enacting them. This creates accountability for how regulatory decisions affect consumer costs.

Potential points of contention

  • Compliance burden: Insurers may argue that generating detailed actuarial analyses for hypothetical scenarios is costly and time-consuming, potentially increasing administrative expenses that could be passed to consumers
  • Predictive accuracy: Premium impact projections are estimates subject to market variables, claims experience, and underwriting changes—questioning whether such statements would be sufficiently reliable for decision-making
  • Scope ambiguity: The bill's definition of what triggers a required statement may be unclear, creating disputes over which regulatory actions or coverage changes require formal impact analysis

Compiled from official sources — confirm details with the bill’s official record.

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