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MI HB5825
Bill
Status
12/31/2024
Primary Sponsor
Julie Rogers
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AI Summary
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Requires health insurers offering policies in Michigan to issue rebates to insured individuals when the insurer fails to meet the medical loss ratio requirements under the Patient Protection and Affordable Care Act (42 USC 300gg-18)
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Establishes that insurers complying with federal medical loss ratio calculations and rebate provisions satisfy Michigan's requirements under this section
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Mandates insurers report medical loss ratio calculations and rebate information to both the U.S. Department of Health and Human Services and the Michigan Department of Insurance and Financial Services concurrently
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Exempts health insurance policies not required to issue rebates under federal law, including retiree coverage plans (29 USC 1191a(a)) and grandfathered health plan coverage (45 CFR 147.140)
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Effective April 2, 2025
Legislative Description
Insurance: health insurers; issuing rebates to an insured if the insured does not meet medical loss ratio; require. Amends 1956 PA 218 (MCL 500.100 - 500.8302) by adding sec. 3406jj.
Insurance: health insurers
Last Action
Assigned Pa 254'24
12/31/2024