All Roll Calls
Yes: 137 • No: 0
IowaHF 223291st General Assembly (2025–2026)HouseWALLET
A bill for an act relating to life insurance, permissible third parties, and financial exploitation of eligible adults. (Formerly HSB 516.) Effective date: 07/01/2026.
Sponsored By: COMMITTEE ON COMMERCE
Signed by Governor
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 3 benefits, 0 costs, 2 mixed.
Report concerns to regulators or contacts
Beginning July 1, 2026, an insurer or qualified individual may tell the Iowa insurance commissioner if they reasonably believe exploitation happened, was attempted, or is underway. These reports do not have to be shared with the eligible adult, and good‑faith reporters are immune from liability. They may also notify a permissible third‑party contact, but not if that person is reasonably suspected of the abuse. An eligible adult may provide contact info, and insurers do not have to ask for a contact.
Stronger investigations and confidential records
Beginning July 1, 2026, insurers must give the insurance commissioner or law enforcement records relevant to suspected exploitation during an investigation. These records are confidential public records and are not open to public inspection. The commissioner may also conduct arrests and investigations for crimes found during authorized investigations under this and related chapters. This strengthens fraud fighting while protecting victims’ privacy.
Brokers can pause risky transfers
Beginning July 1, 2026, Iowa broker‑dealers and investment advisers may pause a disbursement or transaction for 15 business days if they reasonably believe it may exploit an eligible adult. With an internal review or an administrator request, they may extend the pause to 25 business days, and with continued support up to 55 business days from the start. The pause must follow the start of an internal review and a reasonable belief the transaction likely leads to exploitation.
Insurers can pause suspicious payouts
Beginning July 1, 2026, insurers may start an internal review if a requested payout or change likely exploits an eligible adult. They may delay the money only after the review starts and points to likely exploitation. The insurer must write to authorized parties within seven business days (not suspected abusers) and also notify the insurance commissioner within seven business days. The delay ends when no exploitation is found or after 15 business days, but can be extended to 25, and with continued support up to 55 business days. A court can end, extend, or change the delay, and good‑faith actions are immune from liability.
Clear definitions and required staff training
Beginning July 1, 2026, the law sets standard meanings for terms like disbursement, eligible adult, financial exploitation, permissible third party, and qualified individual. A qualified individual includes an insurance producer with at least two hours of training on exploitation or someone trained under section 508.105. Insurers must train supervisors and staff who handle complaints, fraud, or investigations to spot and report exploitation and protect privacy. Training must be done by June 30, 2027, and new staff must be trained within one year. Insurer‑employed qualified individuals are exempt from this insurer‑provided training.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON COMMERCE
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 3/23/2026
Passed Senate
Yes: 47 • No: 0
House vote • 3/2/2026
Passed House
Yes: 90 • No: 0
Actions Timeline
Signed by Governor.
4/9/2026GovernorReported correctly enrolled, signed by Speaker and President, and sent to Governor.
4/9/2026SenateMessage from Senate.
3/24/2026SenateImmediate message.
3/23/2026legislaturePassed Senate, yeas 47, nays 0.
3/23/2026SenateSubstituted for SF 2454.
3/23/2026legislaturePlaced on calendar under unfinished business.
3/19/2026legislatureRead first time, attached to SF 2454.
3/3/2026legislatureMessage from House.
3/3/2026HouseImmediate message.
3/2/2026legislaturePassed House, yeas 90, nays 0.
3/2/2026HouseIntroduced, placed on calendar.
1/30/2026legislature
Bill Text
As Introduced
Enrolled
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