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HB 494

Insurance, Health, Accident - As enacted, enacts the "Voluntary Portable Benefit Plan Act"; makes related changes. - Amends TCA Title 50 and Title 65, Chapter 15, Part 3.

114th Regular Session (2025-2026) Introduced by Charlie Baum

Tennessee establishes voluntary portable benefits that workers can keep when changing jobs, expanding supplemental coverage options outside traditional employer plans.

Comp. became Pub. Ch. 131
#accident #health #insurance
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Bill Summary · HB 494

Legislative bill overview

HB 494 enacts Tennessee's "Voluntary Portable Benefit Plan Act," which allows employers to offer portable benefits that employees can carry with them between jobs. The bill amends the state's insurance code to establish regulatory frameworks for these voluntary benefit plans, which typically include accident insurance, critical illness coverage, and similar products.

Why is this important

As workforce mobility increases and traditional job tenure decreases, portable benefits could help workers maintain coverage during employment transitions. This legislation addresses a gap where workers often lose supplemental coverage when changing jobs, potentially reducing gaps in financial protection for accidents or health crises.

Potential points of contention

  • Regulatory clarity: The bill creates a new category of benefits that insurers must understand and implement, raising questions about whether existing regulatory structures adequately protect consumers in this nascent market
  • Consumer protection concerns: Portable plans may lack the same regulatory oversight as traditional group health insurance, potentially leaving workers vulnerable to inadequate coverage or misleading marketing
  • Cost and access: While offering flexibility, portable benefits typically cost more per unit of coverage than employer-group plans, potentially making them unaffordable for lower-wage workers most likely to change jobs frequently

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

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