MO HB313

Repeals and replaces Section 376.717 of Missouri law regarding coverage under the Missouri Life and Health Insurance Guaranty Association Act.

Expands health insurance benefit coverage limits with differentiated caps: $100,000 for most coverages, $300,000 for disability insurance and long-term care insurance, and $500,000 for basic hospital, medical, surgical, and major medical insurance.

Increases annuity benefit coverage limits from $100,000 to $250,000 in present value, with $250,000 available for each structured settlement annuity payee.

Adds a $5 million aggregate cap on benefits for a single owner of multiple nongroup life insurance policies, regardless of how many policies are held.

Adds exclusion for Medicare Part C and Part D health coverage and clarifies that benefits are subject to subrogation rights and assets from impaired or insolvent insurers.