NH Senate Bill 297 Proposes Stricter Insurance Reserve Rules for Municipal Risk Pools

New Hampshire Senate Bill 297 proposes stricter reserve requirements for insurers in the state's municipal risk pools and empowers the state Secretary of State to seek receivership for risk pools facing financial instability. The bill, sponsored by State Senator Sharon Carson, has prompted concerns from various local town officials who rely on these risk pools for employee health insurance coverage.

Notably, the New Hampshire Interlocal Trust (NHIT) announced it would cease coverage for town employees, including the town of Wilton, if the bill becomes law. Towns such as Dublin, Francestown, Greenfield, and Antrim, which utilize different risk pools like HealthTrust, have also expressed apprehension about the potential disruption to their health insurance services and the financial impact on municipal budgets.

Recent testimony at a House Commerce and Consumer Affairs Committee hearing included statements from Secretary of State David Scanlan, HealthTrust's Executive Director Scott DeRoache, and others, highlighting the financial challenges facing some risk pools and the need for increased transparency. Opponents of the bill warn of increased financial risk for local governments and potential loss of health coverage for public employees. The bill currently awaits further action from the House committee.