Health Insurance Affordability Fund Allocation

Current law requires that money deposited in the health insurance affordability cash fund (fund) is allocated as specifically outlined in statute for 2021 and each year thereafter. The bill requires the health insurance affordability board to reevaluate the allocation of money deposited in the fund on and after July 1, 2026, to:Prioritize the facilitation of reducing health coverage plan premium increases and avoiding the loss of health coverage plans for individuals in the individual market and individuals who are unable to purchase health coverage plans through the exchange; andEvaluate the costs of the state-subsidized individual health coverage plans purchased by qualified individuals and prioritize the reduction of the health coverage plan premiums for documented residents.(Note: This summary applies to this bill as introduced.)