summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to redirect excessive health insurer reserves to support health care needs. Financial Services.
AI Summary
This bill aims to redirect excessive health insurer reserves to support health care needs. It requires health insurance carriers with a net worth surplus exceeding 525% of risk-based capital to pay an assessment to support the delivery of health care services. The assessment amount is set to generate $300 million, which will be split evenly between the Behavioral Health Trust Fund and the COVID-19 Public Health Emergency Hospital Relief Trust Fund. The bill also establishes a mechanism for enforcing the assessment liability and a sunset provision for the $300 million assessment requirement on December 31, 2025.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see S2636 (on 02/12/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S644 |
| BillText | https://malegislature.gov/Bills/193/S644.pdf |
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