Modifies provisions relating to multiple employer self-insured health plans

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Modifies provisions relating to multiple employer self-insured health plans

The following summaries of this bill are available: Print All Summaries Introduced Print SB 1464 - Current law defines a multiple employer self-insured health plan as one that is either offered by a staff or employee leasing company or established or maintained for the purpose of offering or providing health, dental, or short-term disability benefits to employees of two or more employers.

What This Bill Does

• The following summaries of this bill are available: Print All Summaries Introduced Print SB 1464 - Current law defines a multiple employer self-insured health plan as one that is either offered by a staff or employee leasing company or established or maintained for the purpose of offering or providing health, dental, or short-term disability benefits to employees of two or more employers.
• This act modifies such definition by providing that a multiple employer self-insured health plan also includes one that is established or maintained for the purpose of offering or providing health, dental, or short-term disability benefits to two or more self-employed individuals and their dependents.
• (Section 376.1000) Current law also requires a multiple employer self-insured health plan to establish a surplus account with one of three minimum balances, as described in the act.
• This act provides that such minimum shall either be $600,000, as provided in current law, or an amount equal to two times the authorized control level risk-based capital.

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

The following summaries of this bill are available:

Print All Summaries

Introduced

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SB 1464 - Current law defines a multiple employer self-insured health plan as one that is either offered by a staff or employee leasing company or established or maintained for the purpose of offering or providing health, dental, or short-term disability benefits to employees of two or more employers. This act modifies such definition by providing that a multiple employer self-insured health plan also includes one that is established or maintained for the purpose of offering or providing health, dental, or short-term disability benefits to two or more self-employed individuals and their dependents. (Section 376.1000)

Current law also requires a multiple employer self-insured health plan to establish a surplus account with one of three minimum balances, as described in the act. This act provides that such minimum shall either be $600,000, as provided in current law, or an amount equal to two times the authorized control level risk-based capital. (Section 376.1017)

This act is similar to a provision in the truly agreed to and finally passed SS/SCS/HCS/HB 2372 (2026), a provision in the truly agreed to and finally passed CCS/SS/HCS/HB 2596 (2026), and a provision in HCS/SB 1019 (2026).
TAYLOR MIDDLETON

Current Bill Text

EXPLANATION-Matter enclosed in bold-faced brackets [thus] in this bill is not enacted
and is intended to be omitted in the law.
SECOND REGULAR SESSION
SENATE BILL NO. 1464
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR CRAWFORD.
5952S.01I KRISTINA MARTIN, Secretary
AN ACT
To repeal sections 376.1000 and 376.1017, RSMo, and to enact in lieu thereof two new sections
relating to multiple employer self-insured health plans.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Sections 376.1000 and 376.1017, RSMo, are 1
repealed and two new sections enacted in lieu thereof, to be 2
known as sections 376.1000 and 376.1017, to read as follows:3
376.1000. 1. As used in sections 376.1000 to 1
376.1045, a "multiple employer self-insured health plan" is 2
any plan or arrangement which is not fully insured and which 3
is either: 4
(1) Offered by a staff or employee leasing company; or 5
(2) Established or maintained for the purpose of 6
offering or providing health, dental or short-term 7
disability benefits to employees of two or more employers or 8
to two or more self-employed individuals and their 9
dependents. 10
2. A plan or arrangement is considered fully insured 11
only if an insurer licensed to transact business in this 12
state retains the ultimate responsibility for all benefits 13
payable by a contract or policy of insurance. 14
376.1017. 1. A plan shall establish loss reserves for 1
all incurred losses, both reported and unreported, and for 2
unearned premiums. 3
SB 1464 2
2. A plan also shall establish a surplus account equal 4
to the greater of the following: 5
(1) [Three times the average paid monthly premium 6
during the plan's most recent fund year; 7
(2) For plans which do not yet have one fund year's 8
experience, three times estimated monthly premium; or 9
(3)] Six hundred thousand dollars; or 10
(2) An amount equal to two times the authorized 11
control level risk-based capital. 12
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