MI HB4841

Extends maximum duration of short-term limited duration health insurance policies from 6 months to 12 months, and from 185 days to 365 days per policy period.

Changes short-term policies from nonrenewable to renewable, allowing multiple periods of coverage totaling up to 365 days with possible extensions for conditions incurred during the policy term.

Makes preexisting condition coverage optional rather than prohibited, and adds new coverage requirements including emergency care, hospital services, physician services, laboratory services, and X-ray services.

Requires short-term policies to be available with effective dates within 15 days of application (instead of immediate without underwriting) and mandates a 10-day free look period with full refund capability.

Caps short-term policy premiums at 10% of an insurer's total individual health insurance premiums annually and requires annual reporting to the insurance director on short-term versus standard policy premiums.