MO SB158

Allows out-of-state health insurers authorized in other states to issue accident and sickness policies in Missouri without being required to offer state-mandated health benefits.

Requires written applications and policies to contain boldface warning language disclosing that policies are governed by the state where the master policy is filed, not Missouri law, and may result in higher premium increases at renewal.

Requires additional boldface disclosures explaining that out-of-state policies may provide fewer health benefits than Missouri state-mandated benefits and advising consumers to consult insurance agents.

Authorizes the Director of the Department of Insurance, Financial Institutions and Professional Registration to conduct market conduct and solvency examinations of out-of-state companies seeking to offer plans in Missouri under the same terms as in-state companies.

Directs the insurance director to promulgate rules and regulations to determine which out-of-state health insurance companies may offer plans and the approval process for such plans, subject to Missouri's Administrative Procedure Act (Chapter 536).