HB 4024 Summary

• Allows insured persons to choose from three personal protection insurance (PPI) coverage levels after 90 days of enactment: $250,000 per occurrence, $500,000 per occurrence, or unlimited coverage, with default of unlimited if no selection made.

• Requires insurers to file PPI premium rates reflecting expected savings from the amendments within 90 days of enactment, with minimum rate reductions of 40% for $250,000 limits, 20% for $500,000 limits, and 10% for unlimited coverage.

• Caps medical provider reimbursement at 100% of worker's compensation fee schedules in effect December 31, 2018, with director authority to approve subsequent schedule changes if reasonable and appropriate.

• Updates catastrophic claims association liability thresholds to $555,000 beginning July 1, 2019, with biennial increases of 6% or Consumer Price Index (whichever is less), rounded to nearest $5,000.

• Requires voter approval through November 2020 general election for the bill to take effect.