Bill > HB327

This bill directs the State Corporation Commission, a state agency, to seek a five-year extension of a State Innovation Waiver, which is a special permission granted under the federal Patient Protection and Affordable Care Act (often called Obamacare) that allows states to implement innovative healthcare programs. The existing waiver for Virginia's Commonwealth Health Reinsurance Program is set to expire on January 1, 2028, and this bill aims to ensure its continuation. Additionally, the bill removes a previous limit that capped the program's goal of reducing health insurance premiums by up to 20 percent, allowing for potentially greater premium reductions depending on available funding. This legislative change is based on a recommendation from the Health Insurance Reform Commission.

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https://lis.virginia.gov/bill-details/20261/HB327