Section 550.1751 – Short Title.
550.1751 Short title. Sec. 1. This act shall be known and may be cited as the “insurance provider assessment act”. History: 2018, Act 175, Imd. Eff. June 11, 2018
Section 550.1753 – Definitions.
550.1753 Definitions. Sec. 3. As used in this act: (a) “Department” means the department of treasury. (b) “Excess loss” or “stop loss” means coverage that provides insurance protection against the accumulation of total claims exceeding a stated level for a group as a whole or protection against a high-dollar claim on any 1 individual. (c) […]
Section 550.1755 – Waiver Request; Notification of Member Months, Rate, and Insurance Providers by Tier.
550.1755 Waiver request; notification of member months, rate, and insurance providers by tier. Sec. 5. (1) If the department of health and human services has not already submitted an application to the federal Centers for Medicare and Medicaid Services to request a waiver, for a period of not less than 5 years, of the broad-based […]
Section 550.1757 – Assessment; Levy; Rates; Payment Method.
550.1757 Assessment; levy; rates; payment method. Sec. 7. (1) Beginning on the first day of the calendar quarter in which the director of the department of health and human services notifies the secretary of state and the department in writing that the federal Centers for Medicare and Medicaid Services has approved its request for a […]
Section 550.1759 – Records; Failure to File Return or Keep Proper Records; Right of Department to Impose Assessment.
550.1759 Records; failure to file return or keep proper records; right of department to impose assessment. Sec. 9. (1) An insurance provider liable for the assessment under this act shall keep accurate and complete records and pertinent documents as may be required by the department. Records required by the department shall be retained for a […]
Section 550.1761 – Administration of Assessment; Conflicting Provisions of Law; Rules; Annual Report.
550.1761 Administration of assessment; conflicting provisions of law; rules; annual report. Sec. 11. (1) The department shall administer the assessment imposed under this act under 1941 PA 122, MCL 205.1 to 205.31, and this act. If 1941 PA 122, MCL 205.1 to 205.31, and this act conflict, the provisions of this act apply. The assessment […]
Section 550.1763 – Insurance Provider Fund; Establishment; Creation; Deposit; Transfer of Money.
550.1763 Insurance provider fund; establishment; creation; deposit; transfer of money. Sec. 13. (1) All money received and collected under this act shall be deposited by the department in the insurance provider fund established in this section. (2) The insurance provider fund is created within the state treasury and shall be administered by the department for […]
Section 550.1765 – Appropriation for Administration.
550.1765 Appropriation for administration. Sec. 15. For administration and compliance requirements created by this act, in the 2018-2019 state fiscal year and each fiscal year thereafter, the department shall receive from the insurance provider fund created in section 13 an amount not to exceed 1/2 of 1% of the annual remittances under this act in […]
Section 550.1767 – Failure to Pay Assessment, Interest, or Penalty; Final Determination; Written Notice to Director; Suspension or Revocation of Certificate of Authority to Transact Insurance.
550.1767 Failure to pay assessment, interest, or penalty; final determination; written notice to director; suspension or revocation of certificate of authority to transact insurance. Sec. 17. The department shall provide the director of the department of insurance and financial services with written notice of any final determination that an insurance provider has failed to pay […]