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ARIZONA HOUSE OF REPRESENTATIVESFifty-fourth Legislature Second Regular Session |
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SB 1213: appropriation; actuarial study; reinsurance feasibility
Sponsor: Senator Livingston, LD 22
Committee on Appropriations
Overview
Appropriates $250,000 from the state General Fund (GF) to the Department of Insurance and Financial Institutions (DIFI) in fiscal year (FY) 2021 to conduct an actuarial study on the feasibility of establishing a reinsurance program to secure an innovation waiver.
History
The Patient Protection and Affordable Care Act (ACA) permits a state to apply for a State Innovation Waiver (Waiver) which allows states to implement innovative ways to access quality healthcare that is comprehensive, affordable and provides comparable coverage (42 U.S.C. § 18052).
Provisions
1. Appropriates $250,000 from the state General Fund to DIFI in fiscal year 2020-2021 to conduct an actuarial study to determine the feasibility of establishing a reinsurance program to secure a Waiver by the United States Secretary of Health and Human Services under the ACA. (Sec. 1)
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Requires the actuarial study to:
a) Consider insurance premiums and risks associated with individuals who are insured through a health exchange or marketplace under the ACA; and
b) Review states with approved risk mitigation waivers and their corresponding funding obligations. (Sec. 1)
3. Mandates that DIFI include and consider stakeholder input on best practices, premium offsets and risk factors when determining the feasibility of establishing a Waiver. (Sec. 1)
4. Exempts the above appropriation from lapsing one month after the beginning of each fiscal year. (Sec. 1)
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8. SB 1213
9. Initials JR/LB Page 0 Appropriations
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