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PRIA is a trademark of PRIA Technologies, LLC.

PRIA provides educational policy intelligence and is not a source of investment, legal, or financial advice. Content is for informational purposes only.

Michigan Statutes, Title 550

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Michigan/Statutes

← All Michigan coverage

Title 550, GENERAL INSURANCE LAWS

32 chapters · 358 sections in this title.

All chapters in Title 550358 Ch 350-of-1980, THE NONPROFIT HEALTH CARE CORPORATIO…145 Ch 125-of-1963, NONPROFIT DENTAL CARE CORPORATIONS26 Ch 218-of-1984, THIRD PARTY ADMINISTRATOR ACT25 Ch 173-of-1958, CREDIT INSURANCE ACT24 Ch 11-of-2022, PHARMACY BENEFIT MANAGER LICENSURE A…18 Ch 251-of-2000, PATIENT'S RIGHT TO INDEPENDENT REVIE…15 Ch 252-of-1986, THE HEALTH BENEFIT AGENT ACT15 Ch 233-of-1984, PRUDENT PURCHASER ACT13 Ch 175-of-2018, INSURANCE PROVIDER ASSESSMENT ACT9 Ch 386-of-1996, VIATICAL SETTLEMENT CONTRACTS9 Ch 499-of-2000, ELDER PRESCRIPTION INSURANCE COVERAG…9 Ch 66-of-1933, EMERGENCY INSURANCE LEGISLATION8 Ch 101-of-2012, AUTISM COVERAGE REIMBURSEMENT ACT7 Ch 239-of-1995, GROUP HEALTH PLAN ACT6

15 sections·Filtered byTitle 550✕Ch 252-of-1986✕

Mich. Comp. Laws § 550.1001 Short title.
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Sec. 1. This act shall be known and may be cited as "the health benefit agent act".
Mich. Comp. Laws § 550.1002 Definitions.
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Sec. 2. As used in this act: (a) "Affiliate" means that term as defined in section 1301 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, being section 500.1301 of the Michigan Compiled Laws. (b) "Commissioner" means the commissioner of insurance. (c) "Contro…
Mich. Comp. Laws § 550.1003 Persons authorized to sell health benefits; packaging health benefits with insurance; notify agent of record; annual appointment fee; "agent of record" defined.
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Sec. 3. (1) Health benefits may only be sold on behalf of a health benefit corporation by a health benefit agent. (2) A health benefit agent may package health benefits with insurance the agent is authorized to sell. If an application for health benefits that is packaged with ins…
Mich. Comp. Laws § 550.1004 Influencing agent prohibited.
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Sec. 4. A health benefit corporation shall not attempt in any way to influence an agent in the packaging of health benefits.

Mich. Comp. Laws § 550.1004a Applicability of certain statutory provisions.

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Sec. 4a. (1) The provisions of sections 1, 2, 3, 4(1), (2), (3), (4), (6), 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, and 18 of Act No. 274 of the Public Acts of 1984, as amended, being sections 445.771 to 445.788 of the Michigan Compiled Laws, shall apply to all activities a…

Mich. Comp. Laws § 550.1005 Compensation of health benefit agents.

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Sec. 5. Health benefit corporations shall compensate health benefit agents primarily on a reasonable commission basis. Health benefit corporations may provide reasonable bonuses or other reasonable compensation to health benefits agents for the sale of health benefits.

Mich. Comp. Laws § 550.1006 Authorized agents; requirements, duties, and restrictions; powers of commissioner.

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Sec. 6. (1) Agents licensed under chapter 12 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, to sell accident and health insurance are deemed to be health benefits agents under this act upon being authorized by a health benefit corporation and filing that a…

Mich. Comp. Laws § 550.1008 Contracts or other arrangements for packaging of health benefits with insurance; policy supplementing health benefits of health maintenance organization.

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Sec. 8. (1) Except as otherwise provided in this act, a health care corporation organized under Act No. 350 of the Public Acts of 1980, being sections 550.1101 to 550.1704 of the Michigan Compiled Laws, shall not, either itself or through any affiliate or agent, enter into a cont…

Mich. Comp. Laws § 550.1009 Licensing affiliate of health benefit corporation as insurance agent prohibited.

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Sec. 9. An affiliate of a health benefit corporation must not be licensed as an insurance agent under chapter 12 of the insurance code of 1956, 1956 PA 218, MCL 500.1201 to 500.1247.

Mich. Comp. Laws § 550.1010 Health benefit agent as fiduciary; evidence of violation of fiduciary responsibility; use of reasonable accounting methods; records required; examination of records; prohibited conduct.

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Sec. 10. (1) A health benefit agent shall be a fiduciary for all money received or held by him or her in his or her capacity as an agent. Failure by an agent in a timely manner to turn over the money which he or she holds in a fiduciary capacity to the persons to whom they are ow…

Mich. Comp. Laws § 550.1012 Notice of termination of agent's authority; liability; duration of agent's responsibility; cancellation or refusal to renew certificate of subscriber; certain referrals or communications prohibited; records, names of subscribers, and expiration dates of certificates and contracts as property of agent; copies of written communications between health benefit corporations and subscribers; grounds for cancellation of agent's contract or termination of agent's authority; authorizing licensed accident and health insurance agent to sell health benefits.

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Sec. 12. (1) A health benefit corporation shall give to the commissioner and the agent immediate written notice of the termination of an agent's authority to represent the health benefit corporation. The notice shall include the full disclosure, with supporting evidence, of acts …

Mich. Comp. Laws § 550.1014 Suspension, revocation, refusal to grant, or refusal to renew accident and health insurance license; grounds; notice; hearing; summary suspension; subpoenas.

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Sec. 14. (1) The commissioner, after notice and opportunity for a hearing, may suspend or revoke the accident and health insurance license of an agent who violates any provision of this act. (2) After notice and opportunity for a hearing, the commissioner may refuse to grant or r…

Mich. Comp. Laws § 550.1016 Violation of act; orders; penalties for violation of cease and desist order; injunction.

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Sec. 16. (1) If the commissioner finds that a person has violated this act, after an opportunity for a hearing pursuant to the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws, the commiss…

Mich. Comp. Laws § 550.1018 Construction of act.

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Sec. 18. This act shall not be construed as authorizing a health benefit corporation or affiliate of a health benefit corporation to market or transact, as defined in sections 402a and 402b of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, being sections 500.…

Mich. Comp. Laws § 550.1020 Conditional effective date.

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Sec. 20. This act shall not take effect unless House Bill No. 5527 of the 83rd Legislature is enacted into law.