OK| The Oklahoma Insurance Department issued Bulletin No. 2025-12 to clarify its stance regarding unfair trade practices among health insurers, particularly concerning the restriction of access to Medicare Advantage and Supplement plans. The Department warns insurers against actions such as removing enrollment applications, discouraging producers from selling their products, or changing compensation mid-year, as these are considered unfair trade practices under Oklahoma statute. Insurers are urged to act in good faith, making all filed products equally accessible while compensating producers if the plan’s rates assumed commission, and the Department will monitor compliance with possible enforcement actions for violations of these standards.
Main Points:
- Carriers must not restrict consumer access to insurance products or manipulate producer incentives as these actions constitute unfair and deceptive trade practices under Oklahoma law.
- Insurers are required to maintain accessible enrollment applications and compensate producers where commissions were built into filed rates unless zero commission was expressly stated in filings.
- The Oklahoma Insurance Department will closely monitor market behavior and may take regulatory action against insurers engaging in practices that manipulate the market or harm consumers.