For Benefits Compliance specific state updates for Missouri click here.
Department of Insurance Issues Bulletin Including Premium Grace Period
April 17, 2020
On March 21, 2020, the Missouri Department of Commerce and Insurance issued Insurance Bulletin 20-05 to all insurers strongly encouraging nonhealth insurers to continue insurance policies in effect as of March 13, 2020, until the Executive Order 20-04 is terminated or this bulletin is rescinded, whichever is later. the department is not requiring insurers to waive any premiums and anticipates that a failure to pay premiums or remit consideration may subject the policy to a retroactive cancellation, in accordance with the policy terms. The department confirmed that the bulletin should not be construed as the department requesting any insurer to refrain from terminating coverage because of fraud on the part of an insured.
MO Insurance Bulletin 20-05
DEPARTMENT OF INSURANCE ISSUES BULLETIN CONCERNING PREMIUM GRACE PERIODS
June 01, 2020
On May 7, 2020, the Missouri Department of Commerce and Insurance issued Bulletin 20-10 extending a previous Bulletin encouraging insurers to offer premium grace periods, and an executive order regarding regulatory filing deadlines for plan year 2021 until June 15, 2020. The bulletin also notes that insurers are not precluded from setting up payment plans or other accommodations to assist consumers, to the extent possible or as required by law.
MO Bulletin 20-10