Texas HB3508 mandates insurers to review and audit third-party administrators handling over 100 beneficiaries.
HB3508 amends the Texas Insurance Code to establish specific review and audit requirements for insurers working with third-party administrators. Insurers must conduct a semiannual review and a biennial on-site audit if the administrator manages benefits for more than 100 certificate holders, injured employees, plan participants, or policyholders. This law aims to ensure the proper management and oversight of third-party administrators by insurers.
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