HI HB407

Authorizes insurers, mutual benefit societies, and health maintenance organizations to offer high deductible health plans to employers subject to Chapter 393 (Prepaid Health Care Act) effective January 1, 2018, provided they also sell non-high deductible prepaid health care plans.

Requires high deductible health plans to be offered only in conjunction with health savings accounts as defined under Section 223 of the Internal Revenue Code, and mandates employer contributions to participating employees' health savings accounts at a percentage per pay period (percentage amount left blank in bill).

Prohibits insurers from offering high deductible health plans without health savings accounts or vice versa; maintains requirement that employers cannot avoid providing prepaid health care plans under Chapter 393.

Requires insurers to file educational materials and marketing information with the insurance commissioner and establishes a process for receiving employee complaints regarding voluntary election of high deductible health plans.

Effective July 1, 2050, with automatic repeal on June 30, 2022; contains provisions making the law severable if any conflict with federal law occurs, and does not affect collective bargaining agreements.