376.987. High deductible health plans and establishment of health savings plans to be offered as options--definitions--rulemaking authority.

High deductible health plans and establishment of health savings plansto be offered as options--definitions--rulemaking authority.

376.987. 1. The board shall offer to all eligible persons for poolcoverage under section 376.966 the option of receiving health insurancecoverage through a high-deductible health plan and the establishment of ahealth savings account. In order for a qualified individual to obtain ahigh-deductible health plan through the pool, such individual shall presentevidence, in a manner prescribed by regulation, to the board that he or shehas established a health savings account in compliance with 26 U.S.C.Section 223, and any amendments and regulations promulgated thereto.

2. As used in this section, the term "health savings account" shallhave the same meaning ascribed to it as in 26 U.S.C. Section 223(d), asamended. The term "high-deductible health plan" shall mean a policy orcontract of health insurance or health care plan that meets the criteriaestablished in 26 U.S.C. Section 223(c)(2), as amended, and any regulationspromulgated thereunder.

3. The board is authorized to promulgate rules and regulations forthe administration and implementation of this section. Any rule or portionof a rule, as that term is defined in section 536.010, RSMo, that iscreated under the authority delegated in this section shall becomeeffective only if it complies with and is subject to all of the provisionsof chapter 536, RSMo, and, if applicable, section 536.028, RSMo. Thissection and chapter 536, RSMo, are nonseverable and if any of the powersvested with the general assembly pursuant to chapter 536, RSMo, to review,to delay the effective date, or to disapprove and annul a rule aresubsequently held unconstitutional, then the grant of rulemaking authorityand any rule proposed or adopted after August 28, 2007, shall be invalidand void.

(L. 2007 H.B. 818)

Effective 1-01-08