Insurance Companies, Agents, Brokers, Policies - As enacted, authorizes categorizing certain foreign multiple employer welfare arrangements as domestic multiple employer welfare arrangements if specific conditions are met. - Amends TCA Title 56, Chapter 26.

SB 286 amends Tennessee law to allow certain foreign multiple employer welfare arrangements (MEWAs) composed solely of banks to be treated as domestic MEWAs under specific conditions. This directly affects bank-based MEWAs operating in Tennessee that are licensed in a neighboring state and meet five requirements: limited Tennessee enrollment (max 2,500 employees), adequate regulatory oversight by the contiguous state, and certification from Tennessee’s Insurance Commissioner. The bill establishes a certification process requiring the Commissioner’s approval and waives certain state rules for qualifying arrangements. It does not change general insurance rules but provides a pathway for bank-specific MEWAs to operate under Tennessee’s framework while maintaining solvency and consumer protections.