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Report Report - Ohio Department of Insurance - State of Ohio

Report Report - Ohio Department of Insurance - State of Ohio

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Accomplishments<br />

<strong>Department</strong> Unveils CHAT Research Tool to Gather<br />

Health Coverage Data<br />

The <strong>Ohio</strong> <strong>Department</strong> <strong>of</strong> <strong>Insurance</strong> and partner organizations the American<br />

Association <strong>of</strong> Retired Persons (AARP), the Free Clinics Association, Access<br />

Health Columbus, St. Vincent Charity Hospital and the Academy <strong>of</strong> Medicine<br />

<strong>of</strong> Cleveland and Northern <strong>Ohio</strong> (AMCNO) took the Choosing Healthplans All<br />

Together (CHAT) research tool across the state to gather data about <strong>Ohio</strong>ans’<br />

decision making process regarding health coverage. Participants<br />

are faced with making choices about health benefits packages<br />

with limited resources. The information gathered from the<br />

community CHAT sessions will provide valuable information on<br />

consumer views regarding health coverage reforms in <strong>Ohio</strong>.<br />

STOLI Legislation Protects <strong>Ohio</strong>’s Seniors<br />

The <strong>Ohio</strong> General Assembly enacted Amended Substitute House<br />

Bill 404, which included amendments to the <strong>Ohio</strong> <strong>Insurance</strong><br />

Code that would help to limit Stranger Originated Life <strong>Insurance</strong><br />

(STOLI) transactions in <strong>Ohio</strong>. The legislation was supported by<br />

the <strong>Ohio</strong> <strong>Department</strong> <strong>of</strong> <strong>Insurance</strong>. Amended Substitute House<br />

Bill 404 protects consumers against STOLI transactions, where<br />

investors prey on seniors and misuse life insurance for their own<br />

gain, and strengthens the <strong>Department</strong>’s oversight authority over<br />

the conduct <strong>of</strong> all viatical sales and life settlements.<br />

<strong>Department</strong> Continues Fight Against Unsuitable Sales<br />

Practices to Seniors<br />

The <strong>Department</strong> continued its pledge on behalf <strong>of</strong> <strong>Ohio</strong>’s seniors to fight<br />

unsuitable practices by those selling certain Medicare, annuity and Stranger/<br />

Investor Originated Life <strong>Insurance</strong> (STOLI) by holding statewide speaking<br />

engagements and senior summits along with workshops with the insurance<br />

industry. These efforts were complimented by the creation <strong>of</strong> special sections<br />

on the <strong>Department</strong>’s web site, tip sheets and brochures, and news article<br />

placement and other media coverage initiatives.<br />

19<br />

www.insurance.ohio.gov

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