HB 4968 — Insurance: other; reporting requirements; provide for. Amends secs. 7, 11 & 17 of 2018 PA 175 (MCL 550.1757 et seq.). TIE BAR WITH: HB 4183'25, HB 4951'25, HB 4961'25

HB-4968, As Passed Senate,House, OctoberSeptember 3,25, 2025 SUBSTITUTE FOR HOUSE BILL NO.

(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 waiver of the broad-based and uniformity provisions of section 1903(w)(3)(B) and (C) of title XIX of the social security act, 42 USC 1396b, for implementation of this act or October 1, 2018, whichever is later, there is levied DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8 1 and imposed an annual assessment on the number of member months for each insurance provider reported on its annual financial statement filed with the department of insurance and financial services or the department of health and human services, whichever is applicable, for the previous calendar year at the following rates in the following circumstances:

(2) If the federal waiver under subsection (1) is approved on an ongoing basis, the department of health and human services may use information in the waiver approval instead of updating the tax DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8 1 on an annual basis.

(5) (2) Beginning By May 15 and by of each May 15 thereafter, year, the department of insurance and financial services and the department of health and human services shall make available to the department the number of member months for each insurance provider and the necessary assessment information for the department to DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8 1 calculate the assessment due under this act, including the number of member months and the rate to be imposed in accordance with subsection (1)(a)(i) to satisfy the statistical test.

(9) (6) The department may require that payment of the DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8 1 assessment be made by an electronic funds transfer method approved by the department.

The director of the department of insurance and financial services may suspend or revoke, after notice and hearing, the certificate of authority to DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8 1 transact insurance in this state, or the license to operate in this state, of any insurance provider that fails to pay an assessment, interest, or penalty due under this act.

Final Page DAW H03914'25 (H-1)_HB4968_APS_1(H-1)_HB4968_APH_1 exauspx3o4r8