REFERENCE TITLE: appropriation; actuarial study; reinsurance feasibility

State of Arizona Senate Fifty-fourth Legislature Second Regular Session 2020

SB 1213

Introduced by Senator Livingston

 

AN ACT

 

appropriating monies to the department of insurance and financial institutions.

 

 

(TEXT OF BILL BEGINS ON NEXT PAGE)

 

Be it enacted by the Legislature of the State of Arizona:

Section 1.  Appropriation; department of insurance; actuarial study; exemption

A.  The sum of $250,000 is appropriated from the state general fund in fiscal year 2020-2021 to the department of insurance and financial institutions to conduct an actuarial study on the feasibility of establishing a reinsurance program to secure a section 1332 state innovation waiver by the United States secretary of health and human services under the patient protection and affordable care act (42 United States Code section 18052).

B.  The actuarial study must do both of the following:

1.  Consider insurance premiums and risks associated with individuals who are insured through a health care exchange or marketplace under the patient protection and affordable care act (P.L. 111-148).

2.  Review states with approved risk mitigation waivers and their corresponding funding obligations.

C.  The department of insurance and financial institutions shall include stakeholder input on best practices, premium offsets and risk factors to consider when determining the feasibility of establishing a section 1332 waiver.

D.  The appropriation made in subsection A of this section is exempt from the provisions of section 35-190, Arizona Revised Statutes, relating to lapsing of appropriations.