Bill > H5832

This bill amends the powers and duties of the Rhode Island Office of Health Insurance Commissioner (OHIC) to provide more oversight on healthcare costs. Specifically, the bill requires prior review and approval from OHIC for population-based and hospital contracts if their annual cost increases exceed the Consumer Price Index for all Urban Consumers (CPI-U) percentage increase. For population-based contracts, the allowable increase is set at CPI-U plus 3.5% from October 1, 2025, to September 30, 2028. For hospital contracts, the allowable increase is set at CPI-U plus 3% during the same period. The CPI-U percentage will be reported by the commissioner by October 1 each year, in accordance with established regulations. This provision aims to help control healthcare spending by requiring additional scrutiny when contract rates grow faster than a benchmarked inflation rate, potentially helping to keep healthcare costs more predictable and manageable for consumers and the state. The bill will take effect immediately upon passage.

Business and Industry, Health and Social Services

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