Bill > HB3851

This bill relates to the creation of a health insurance risk pool for certain health benefit plan enrollees and authorizes an assessment. The key provisions are: 1) The bill establishes a health insurance risk pool in Texas, to be administered by a board of directors appointed by the insurance commissioner, with the purpose of reducing health benefit plan premiums in the individual market, maximizing federal funding, and increasing enrollment in guaranteed issue individual market plans. 2) The board may use pool funds to establish a reinsurance mechanism for health benefit plan issuers writing individual market coverage, and to increase enrollment in guaranteed issue individual market coverage. 3) The bill authorizes the commissioner to apply for federal funding and grants to establish and implement the risk pool, and allows the board to assess health benefit plan issuers to cover the pool's funding requirements. 4) Health benefit plan issuers are required to report certain data to the board, including enrolled individuals and gross premiums, to facilitate the assessment process. 5) The bill takes effect immediately or on September 1, 2021, depending on whether it receives a two-thirds vote in the legislature.