Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Health Insurance > Your Practice

Vermont Protects Consumers Who Change Genders

Your article was successfully shared with the contacts you provided.

The Green Mountain State has a new law that prohibits financial services companies from discriminating against consumers who are changing genders or who are unclear about whether they are male or female.

The Vermont Department of Banking, Insurance, Securities and Health Care Administration has issued Insurance Division Bulletin Number 153 to tell insurers about the law.

Under the law, “gender identity” means “an individual’s actual or perceived gender identity, or gender-related characteristics intrinsically related to an individual’s gender or gender identity, regardless of the individual’s assigned sex at birth,” department officials say.

In a question-and-answer section, regulators respond to a question about the effects of the new law on coverage for prostate conditions for men who are in the process of “transitioning to female gender identity.”

“It is currently a violation of Vermont insurance laws to arbitrarily deny a claim for a medically necessary covered benefit for which an insurer is otherwise liable under an insurance contract,” officials write in the answer to the prostate condition question. “The bill does not change current law.”

A copy of the bulletin is available


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.