This bill amends the Michigan Insurance Code of 1956 by updating several sections related to health insurance policies. Key provisions include requirements for insurers to offer dependent coverage until the dependent reaches 26 years of age, ensuring that coverage for newly born children is effective from birth, and prohibiting denial of enrollment based on various criteria such as the child's residency or tax dependency status. Additionally, the bill specifies that certain sections do not apply to retiree-only health insurance coverage, and it clarifies that insurers cannot impose lifetime or annual limits on essential health benefits.

Further amendments focus on mental health and substance use disorder services, mandating that financial requirements for these benefits must be no more restrictive than those for medical/surgical benefits. The bill also eliminates preexisting condition exclusions for individuals, ensuring broader access to health insurance. Notably, it introduces definitions for terms like "preexisting condition exclusion" and "non-grandfathered health plan coverage," while also specifying that certain types of insurance, such as short-term policies and limited benefit plans, are exempt from these requirements.

Statutes affected:
Substitute (S-1): 500.3403
Senate Introduced Bill: 500.3403
As Passed by the Senate: 500.3403