HCB 10 Summary

• Repeals and re-enacts 35 sections of Missouri insurance law relating to health insurance mandates, long-term care insurance, and insurance filing requirements.

• Establishes the Missouri Long-term Care Partnership Program Act allowing individuals to disregard assets equal to insurance benefit payments when applying for MO HealthNet medical assistance.

• Modifies short-term major medical policy definitions throughout health insurance law by changing "six months or less duration" to "duration of less than one year."

• Allows directors to approve alternative fire insurance policy forms that are at least as favorable to insureds as standard forms, improving policy readability.

• Expands commercial property and casualty insurance filing exemptions effective January 1, 2018, for policies with certain premium thresholds and risk management requirements.