Bill > H5039

This bill establishes the Massachusetts Merged Market Advisory Council, a group of up to 13 members, to advise the governor and lieutenant governor on the merged market for insured health coverage, which is regulated under chapter 176J of the General Laws. The Council's primary goal is to ensure the affordability and long-term stability of health insurance plans for individuals and small employers. The Council will consist of five members appointed by the Speaker of the House and five by the Senate President, chosen for their expertise in the health insurance industry, representing various stakeholders like insurance carriers, brokers, actuaries, individual purchasers, and small businesses. Additionally, the Commissioner of the Division of Insurance will chair the Council, along with the Secretary of Health and Human Services and the Executive Director of the Commonwealth Health Insurance Connector Authority, who will serve ex officio. The Council's main task is to produce a report, based on an independent actuarial analysis, that summarizes current merged market data and proposes recommendations for improvement, including potential policy and legislative changes. These recommendations will address the market's stability, premium trends, cost drivers, the impact of federal regulations like risk adjustment, and emerging coverage options for small employers, with the aim of strengthening the market and promoting affordability, and the Council is set to terminate after submitting its final report by December 31, 2026.

Health and Social Services

Joint Committee on Financial Services (Joint)

https://malegislature.gov/Bills/194/H5039