SB 681 - This act allows young adults, between the ages of 18 and 25, to obtain medical coverage through the Missouri Consolidated Health Care Plan (MCHCP). The plan's board is authorized to administer the coverage provided but is required to maintain in a separate account all premiums and other income the plan receives from that coverage. Every health services corporation and health maintenance organization will pay a quarterly tax on the premiums received. The Director of the Department of Revenue will notify the State Treasurer of the amount of taxes received that is to be transferred from general revenue to the Young Adult Benefit Trust Fund. Payments to the trust fund will be used to offset premium costs for young adults in the plan. Any insurance agent licensed to sell accident and health insurance is authorized to sell the plan to young adults.
This act is similar to HB 934 (2005).