An Act to redirect excessive health insurer reserves to support health care safety net programs

This bill requires health insurance companies with reserves exceeding 550% of risk-based capital to pay an assessment generating $400 million in 2023. The funds will be split equally: $200 million to the Health Safety Net Trust Fund (supporting community health programs) and $200 million to the Medicaid Stabilization Trust Fund (to prevent cuts in MassHealth services and provider reimbursements). The assessment applies only to insurers meeting the reserve threshold and expires on December 31, 2026. It directly affects health insurers with significant excess reserves, redirecting those funds to stabilize healthcare access for low-income residents.