Bill > SB1464

This bill modifies existing Missouri state law regarding multiple employer self-insured health plans by expanding the definition and adjusting financial requirements. Specifically, the bill broadens the definition of a multiple employer self-insured health plan to now include plans that cover two or more self-employed individuals and their dependents, in addition to the previous definition covering plans offered by staff or employee leasing companies. The bill also changes the surplus account requirements for such plans, replacing the previous calculation method (which was based on average monthly premiums or estimated premiums) with a simplified requirement of either $600,000 or two times the authorized control level risk-based capital. The changes aim to provide more flexibility and clarity for self-insured health plans while ensuring they maintain adequate financial reserves. The bill accomplishes these changes by repealing the existing sections of Missouri Revised Statutes and replacing them with updated language that reflects these new provisions.

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https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=36598