LIFE & HEALTH GUARANTY ASSOCIATION H.B. 6097:
FLOOR SUMMARY
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House Bill 6097 (as reported without amendment)
Sponsor: Representative Joe Haveman
House Committee: Insurance
Senate Committee: Banking and Financial Institutions
CONTENT
The bill would amend Chapter 77 of the Insurance Code (the Michigan Life and Health Insurance Guaranty Association Act) to do the following:
-- Exclude from coverage under the chapter any policy or contract that provided benefits under Medicare Part C or D, and exclude from coverage a portion of a policy or contract to the extent that assessments required under Chapter 77 were preempted by State or Federal law.
-- Increase the maximum amount of certain benefits that the Life and Health Insurance Guaranty Association is obligated to cover from $100,000 to $250,000.
MCL 500.7704 Legislative Analyst: Curtis Walker
FISCAL IMPACT
The bill would have no fiscal impact on State or local government.
Date Completed: 6-24-10 Fiscal Analyst: Elizabeth Pratt
Maria Tyszkiewicz
Analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent. hb6097/0910