Bill > S0707

This bill creates the Rhode Island Individual Market Affordability Act of 2025, which establishes a state-based program to reduce out-of-pocket healthcare costs for low- and moderate-income residents purchasing health insurance through the Rhode Island health benefits exchange. The bill creates a new individual market affordability board responsible for recommending specific program details, and establishes a dedicated restricted receipt account within the general fund to finance the program. The funding will come from a portion of existing healthcare services funding contributions, with an initial target of $20-40 million annually, depending on federal premium tax credit levels. The program aims to provide supplemental state premium tax credits, reduce cost-sharing for eligible individuals, and improve healthcare affordability by offering sliding-scale premium assistance based on household income. The board will include diverse representatives from healthcare, business, and consumer sectors, appointed by the governor, who will help determine the most effective way to allocate funds and improve healthcare access. The bill explicitly states that the state is not obligated to make general revenue appropriations to support the program, and the funding will be derived from existing healthcare service contributions.

Health and Social Services

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