SENATE BILL NO. 358

May 24, 2023, Introduced by Senators KLINEFELT, HERTEL, CAVANAGH, CHANG, SHINK, MCMORROW, POLEHANKI, SINGH, BRINKS, CHERRY and WOJNO and referred to the Committee on Health Policy.

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

(MCL 500.100 to 500.8302) by adding section 3406z.

the people of the state of michigan enact:

Sec. 3406z. (1) An insurer that delivers, issues for delivery, or renews in this state a health insurance policy shall offer health insurance policies that provide at least 1 of the following levels of coverage:

(a) Coverage designed to provide benefits actuarially equivalent to 60% of the full actuarial value of the benefits provided under the policy.

(b) Coverage designed to provide benefits actuarially equivalent to 70% of the full actuarial value of the benefits provided under the policy.

(c) Coverage designed to provide benefits actuarially equivalent to 80% of the full actuarial value of the benefits provided under the policy.

(d) Coverage designed to provide benefits actuarially equivalent to 90% of the full actuarial value of the benefits provided under the policy.

(2) An insurer described in subsection (1) that offers a health insurance policy in any level of coverage described in subsection (1) shall also offer coverage in that level as child-only coverage.