HSB721: State-Based Health Insurance Exchange

Creates a state-based health insurance exchange, including the submission of a state innovation waiver application by the insurance commissioner. It establishes a dedicated fund in the state treasury to support the exchange, outlines the use of appropriated and other available funds, and sets forth confidentiality rules for exchange-related information. The bill gives the commissioner authority to adopt rules, including emergency rules, and is effective immediately upon enactment.

Key Points & Impacts:

• Authorizes the commissioner of insurance to develop, implement, and operate a state-based health insurance exchange upon direction of the governor.

• Requires the commissioner to submit an application for a federal state innovation waiver by December 31, 2026.

• Creates a state-based exchange fund in the state treasury, funded by legislative appropriations, federal funds, user fees, and grants.

• Allows funds in the state-based exchange fund to carry over from year to year and credits interest earned to the fund.

• Establishes that most documents and information related to the exchange are confidential and not subject to public records laws, subpoenas, or discovery, with limited exceptions.

• Permits the commissioner to share and receive confidential information with other state and federal authorities under certain conditions.

• Authorizes the commissioner to adopt rules and emergency rules to implement the bill's provisions.

• Bill takes effect immediately upon enactment.