With the enactment of House Bill 2465, any person who is charged with assisting enrollees in the state’s health care insurance exchange program as a “navigator” will be required to file a surety bond in Iowa (or another type of financial responsibility) as a part of the licensing process. Iowa Gov. Terry E. Branstad signed HB 2465 on May 25, 2012, and the law went into effect on July 1, 2012.
The new bond requirement is explained in Section 126 of the bill, which is a new section outlining license application rules.
“6. The commissioner shall require by rule that a licensed navigator furnish a surety bond or other evidence of financial responsibility that protects all persons against wrongful acts, misrepresentations, errors, omissions, or negligence of the navigator.”
Click here to read Iowa HB 2465 in its entirety.
Under the new Federal Health Care Law, HB 2465 applies to all health care insurance professionals in the state of Iowa. To remain in compliance with laws regulating the state’s health care industry, you can contact an expert surety specialist by calling 1 (800) 308-4358 between 7 a.m. and 7 p.m. CST or by filling out our quick online contact form 24/7. Our surety bond company wants to help you get the bond you need quickly, easily and accurately so that you can focus on providing your clients with top-notch insurance services.