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Prohibiting Insurance Companies from Requiring Personal Tax Info.

February 23, 2005
By: Ian Roth
State Capital Bureau

A proposed Senate Bill would prohibit insurance companies from requiring personal tax information on applications for coverage. Ian Roth has more from the state capitol.

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The proposed bill's goal is to keep personal tax information personal. A Mid-Missouri business owner said he supports the bill because his company's insurance provider of 25 years demanded his personal tax information.

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Contents: "I am a firm believer that my business's tax records are a matter for my accountant and my banker and no one else."

Opponents of the bill said that requiring tax information is simply a tool for protecting themselves against insurance fraud. The insurance companies that testified said that all information collected is kept private. If the bill passes, insurance companies would be prohibited from requiring personal tax information.

From the state capitol, I'm Ian Roth.