Bill > SB0914

This bill requires health insurance policies in Michigan, including those that are high-deductible health plans (HDHPs), to count any money paid by the insured person or on their behalf towards their out-of-pocket maximums or other cost-sharing requirements, which are defined as copayments, coinsurance, deductibles, or annual limits on these costs for specific healthcare services like prescription drugs. For HDHPs, these payments will be applied after the minimum deductible is met, unless the payment is for preventive care, in which case it will be applied regardless of the deductible status, to ensure that the insured's health savings account, a tax-advantaged savings account for medical expenses, remains eligible under federal law. This provision, which excludes certain prescription drugs with AB-rated generic equivalents unless specific authorization or protocols are followed, will take effect for policies issued or renewed after December 31, 2025, and will be superseded by any conflicting federal laws.