Your State Government's Oversight of Health Insurance in Tennessee
The State Government of Tennessee is involved in preparing and managing insurance statutes and regulations within the state. In fulfilling this goal, the State Government usually works to balance consumer protections within a supportive business environment that promotes a robust economic growth rate. In the area of health care insurance, the State Government services three separate constituent groups: health insurance consumers, insurance providers, and independent brokers.
The State Government's main control tool for promoting a beneficial health insurance market is based on the periodic licensing of insurance providers and independent brokers. For insurance companies, the Government develops basic standards for health insurance products and performs periodic audits of financial records, ensuring taxation requirements are met. For independent insurance brokers, the Government establishes professional licensing requirements, takes care of broker license testing and issuance of licenses, sets and administers continuing education criteria, and collects broker license fees. The State Government is also in charge of looking out for and investigating insurance fraud schemes, particularly when it may be harmful to consumers or when it is harmful to the state's business environment.
For consumers, the State Government makes available health insurance guidelines for consumers to help residents identify their best health insurance options. The State Government also helps consumers file health insurance appeals with their insurance company when a dispute is raised by a resident over policy coverage or terms. Finally, the State Government is charged with administering Federal Medicare regulations for state implementation where Federally funded insurance is available to lower income individuals, families or children without insurance, seniors, or the self-employed.