California AB 1434 Of 2015 Regarding Health Insurance & Prohibition On Health Insurance Sales

The California legislature is considering Assembly Bill (AB) 1434, introduced on February 27, 2015 to bring Blue Shield of California’s health insurance products under the oversight of the California Department of Insurance (DOI). On April 21, 2015, AB 1434 was re-referred to the General Assembly’s Committee on Revenue and Taxation. It has not yet moved out of committee. Under current state law, for-profit health plans regulated by the DOI must pay premium taxes; non-profit health plans are regulated by to Department of Managed Health Care and are not required to pay the tax . . .