Bill > SB5808

This bill establishes a new process for assessing and potentially collecting funds from nonprofit health insurance carriers in Washington State to support a premium assistance program. Specifically, by October 1, 2026, the commissioner, who is the state's insurance regulator, will determine if a nonprofit health carrier has an "excessive surplus," which is defined as an amount 100 times the minimum net worth required by law. If a surplus is deemed excessive, the nonprofit health carrier must pay 10% of that excessive amount to the state's health care affordability account, which funds a premium assistance program designed to make health insurance more affordable. However, a nonprofit health carrier can request a hearing to argue for a reduction in this payment if they can prove that paying the full amount would financially impair their ability to operate. The commissioner has the authority to adopt rules to implement these provisions, and a "nonprofit health carrier" is defined as a Washington-domiciled, nonprofit entity offering health plans, excluding health maintenance organizations.

Budget and Finance

https://app.leg.wa.gov/billsummary?BillNumber=5808&Year=2025&Initiative=false