SB 158 - This act allows insurers from selected states to issue individual health insurance coverage policies in Missouri. The selected out-of-state insurers shall not be required to offer or provide Missouri mandated health benefits. The act requires each written application for participation in an out-of-state health benefit plan to contain language notifying the policyholder that the policy is primarily governed by state laws other than Missouri and that the policy may provide fewer benefits than that required by Missouri law.
The act authorizes the director to conduct market conduct and solvency examinations of all out-of-state companies seeking to offer health benefit plans in this state or who have been given approval to offer health benefit plans in this state. Such examinations shall be conducted in the same manner and under the same terms and conditions as for companies located in this state. The director is authorized to promulgate rules and regulations necessary to implement the provisions of the act, including, but not limited to, determining which health insurance companies located in other states shall be authorized to offer plans to Missouri residents and determining the manner of approving the health benefit plans offered by such companies.
This act is based on the language contained in the Health Care Choice Act developed by ALEC.