HB 2412 -- Foreign Health Insurance Purchase Act

Sponsor:  Smith (150)

This bill establishes the Foreign Health Insurance Purchase Act
which changes the laws regarding health insurance benefit plans
purchased outside Missouri.  The bill allows Missouri residents
to purchase or enroll in a health insurance policy or health
benefit plan from a health carrier that is licensed in the state
of Illinois, Arkansas, Kansas, Nebraska, Kentucky, Oklahoma,
Tennessee, or Iowa to sell health insurance in those states, even
if the health carrier is not licensed or in compliance with
Missouri state laws, commonly known as foreign insurers.  Foreign
insurers can be exempt from holding a license or certificate of
authority, if it:

(1)  Offers, sells, or renews a health benefit plan in Missouri
that complies with all of the health plan requirements of the
state in which it is domiciled;

(2)  Is authorized to issue the plan in the state where it is
domiciled and to transact business there; and

(3)  Maintains a process to resolve disputes between it and a
Missouri resident regarding the health insurance policy or health
benefit plan.

A health benefit plan or health insurance policy offered, sold,
or renewed in this state by a foreign insurer will not be subject
to the requirements of Missouri's insurance laws; however, the
health carrier will be subject to regulation by the Director of
the Department of Insurance, Financial Institutions and
Professional Registration regarding the enforcement of the
contractual benefits under the policy or plan.

The department must publish on its web site a notice explaining
the right of a resident to purchase health insurance from a
foreign insurer which may include information that might be
helpful in making a decision on the purchase.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm