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SB 348 - 1 Percent Tax on Paid Health Insurance Claims - Michigan Key Vote

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Title: 1 Percent Tax on Paid Health Insurance Claims

Signed by Governor Rick Snyder


See How Your Politicians Voted

Title: 1 Percent Tax on Paid Health Insurance Claims

Vote Smart's Synopsis:

Vote to concur with House amendments and pass a bill that requires insurance carriers to pay a 1 percent tax on all paid health care claims, effective January 1, 2012.

Highlights:

  • Establishes a 1 percent tax on all claims paid by health insurance carriers and third party administrators beginning January 1, 2012 (Sec. 3).
  • Limits the assessment of taxes on paid claims to $10,000 per insured individual or covered life annually (Sec. 3).
  • Establishes a health insurance claims assessment fund into which the collected tax revenue will be deposited, and requires money from the fund to be used to finance the expenditures of Medicaid managed care organizations (Sec. 7).
  • This act is repealed on January 1, 2014 (Sec. 11).

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Full Bill Text

See How Your Politicians Voted

Title: 1 Percent Tax on Paid Health Insurance Claims

Vote Smart's Synopsis:

Vote to pass a bill that requires insurance carriers to pay a 1 percent tax on all paid health care claims, effective January 1, 2012.

Highlights:

  • Establishes a 1 percent tax on all claims paid by health insurance carriers and third party administrators beginning January 1, 2012 (Sec. 3).
  • Limits the assessment of taxes on paid claims to $10,000 per insured individual or covered life annually (Sec. 3).
  • Establishes a health insurance claims assessment fund into which the collected tax revenue will be deposited, and requires money from the fund to be used to finance the expenditures of Medicaid managed care organizations (Sec. 7).
  • This act is repealed on January 1, 2014 (Sec. 11).

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Full Bill Text

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Title: 1 Percent Tax on Paid Health Insurance Claims

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