MI SB0992

Adds a sunset provision repealing the entire act on the first day of the calendar quarter after the Department of Health and Human Services notifies the Secretary of State that the federal Centers for Medicare and Medicaid Services approves a waiver request, or October 1, 2018, whichever is later.

Modifies the assessment rate on health insurance claims paid by carriers and third party administrators: 1% for services January 1, 2012 through June 30, 2014; 0.75% for July 1, 2014 through December 31, 2016; and 1.0% for January 1, 2017 through the sunset date.

Maintains the annual assessment cap at $10,000 per insured individual or covered life and preserves the revenue credit mechanism that provides proportional credits to carriers and third party administrators when collections exceed $400,000,000 (adjusted for medical inflation).

Clarifies assessment responsibility among group health plan sponsors, third party administrators, and excess loss or stop loss insurers, ensuring assessments are not duplicated on the same paid claims.

Effective immediately upon enactment, contingent on Senate Bill 994 of the 2018 Legislature also being enacted into law.