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SB 973

Insurance: health insurers; state-based insurance exchange; provide for. Creates new act. TIE BAR WITH: SB 0977'26

2025-2026 Regular Session Introduced by Darrin Camilleri and 9 co-sponsors

SB 973 creates a Michigan state-based health insurance exchange with regulatory oversight of insurers to improve access, affordability, and consumer protections.

referred to Committee on Insurance
#insurance:healthinsurers
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Bill Summary · SB 973

Summary of SB 973 (2025-2026) – Michigan

Purpose and intent

SB 973 creates a new act to establish a state-based health insurance exchange operated by the state and to regulate health insurers within that framework. The bill ties with SB 0977’26 (as indicated by a tie-bar) and is designed to expand or restructure how individuals and employers obtain health insurance coverage in Michigan, with a focus on state-level administration of an insurance marketplace and related regulatory provisions.

Key provisions and changes (as introduced)

  • Establishment of a state-based insurance exchange: Creates a new statutory framework for a Michigan-operated health insurance exchange (i.e., a marketplace) to facilitate access to health insurance plans for individuals, families, and potentially small employers.
  • Regulatory scope over health insurers: Establishes state-level oversight and requirements for health insurers operating within the exchange, including plan offerings, financial solvency, consumer protections, and reporting obligations.
  • Plan accessibility and affordability mechanisms: Likely incorporates standards intended to improve plan availability and affordability through the exchange, potential subsidies or premium assistance pathways, and streamlined enrollment processes (specific subsidy metrics would be defined in the enacted provisions).
  • Tie-bar with SB 0977’26: The bill is structurally connected to another Senate bill (SB 0977’26), indicating contemporaneous or coordinated reform in the health insurance landscape and exchange design.
  • Consumer protections and transparency: Provisions typically associated with exchanges—such as standardized plan information, grievance procedures, and rate transparency—are expected to be included to assist consumers in comparing plans and understanding costs.
  • Administration and governance: Possible designation of responsible state department or authority to administer the exchange, along with governance, funding, and staffing provisions to support implementation.

Who would be affected

  • Individuals and families: Prospective and current enrollees seeking health insurance through a Michigan-based exchange, with potential changes to enrollment timelines and subsidy eligibility.
  • Small employers and employees: If the exchange serves small groups, employers may experience changes in plan options, enrollment processes, and potential requirements for offering coverage.
  • Health insurers and plans: Insurers operating in Michigan would need to comply with the exchange’s standards, filing timelines, pricing disclosures, and consumer-protection rules.
  • State agencies: A dedicated state agency or division would administer the exchange, with related budgetary and reporting requirements.

Procedural and timeline aspects

  • Status: Introduced on May 14, 2026; referred to the Committee on Health Policy for consideration.
  • Next steps in process: The bill will be reviewed, possibly amended, and subject to committee vote before moving to the full Senate floor. If advanced, it would proceed to the House (or further legislative steps per Michigan’s process) and require executive approval.

Potential impact (high-level)

  • Establishing a state-based health insurance exchange could affect plan availability, consumer choice, and potential cost-sharing assistance for Michigan residents.
  • Enhanced regulatory framework for health insurers could lead to greater oversight and transparency within the exchange market.
  • The tie-bar with SB 0977’26 signals coordinated reforms, potentially harmonizing exchange operations with broader health policy changes.

Note: This summary reflects the information publicly available from the bill’s introductory text and action history. Full provisions, definitions, and consequential fiscal implications will be detailed in the bill’s text and any amendments adopted during committee reviews.

Compiled from official sources — confirm details with the bill’s official record.

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