Bill > HB327

This bill directs the State Corporation Commission to seek a five-year extension of the Commonwealth Health Reinsurance Program's 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 health insurance programs. The bill also removes a previous 20 percent limit on how much the program could aim to reduce health insurance premiums, allowing for potentially greater premium reductions depending on available funding. The Commonwealth Health Reinsurance Program is designed to make health insurance more affordable in the individual market.