The bill amends the Michigan Insurance Code of 1956 by updating several sections related to health insurance policies. Key provisions include requirements for insurers to provide dependent coverage for children up to 26 years of age, ensuring that such coverage cannot be denied based on factors like the child's residency or tax dependency status. Additionally, the bill mandates that insurers cannot impose lifetime or annual limits on essential health benefits and must cover a comprehensive list of services, including mental health and substance use disorder services, without imposing more restrictive financial requirements compared to medical/surgical benefits.

The bill also clarifies that certain provisions do not apply to retiree-only health insurance coverage and specifies that preexisting condition exclusions are not permissible for individuals under health insurance policies. Furthermore, it introduces definitions for terms such as "non-grandfathered health plan coverage" and outlines the conditions under which insurers can impose treatment limitations. Overall, the amendments aim to enhance the accessibility and comprehensiveness of health insurance coverage for Michigan residents.

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