HB 6343 Summary

• Allows insured persons to select personal protection insurance (PPI) coverage limits of $250,000, $500,000, or unlimited per individual per loss occurrence, with policies issued/renewed after 90 days of enactment defaulting to unlimited if no selection is made.

• Requires insurers to file premium rates reflecting expected savings from the bill's amendments, with minimum reductions of 40% for $250,000 limits, 20% for $500,000 limits, and 10% for unlimited limits compared to October 2017 rates.

• Modifies catastrophic claims association indemnification thresholds, increasing the threshold from $555,000 to apply biennial adjustments beginning July 1, 2019, using the lesser of 6% or Consumer Price Index increases rounded to nearest $5,000.

• Changes medical provider reimbursement limits to equal 100% of amounts payable under Michigan worker's compensation fee schedules (R 418.10101-418.101503) or average amounts accepted by providers, with director review authority.

• Contingent on voter approval: Bill becomes effective only if approved by a majority of Michigan electors at the May 2019 regular election.