Bill > S1042

This bill establishes the Idaho Health Insurance Exchange Act, creating an independent body called the "Idaho Health Insurance Exchange" and a sixteen-member board to oversee it, with the primary goal of providing a market-driven platform for individuals and employers to select and purchase health benefit plans, while explicitly stating that participation is voluntary and the exchange will not preempt the duties of the Department of Insurance. The exchange is designed to be financially self-supporting, will not receive state funding, and cannot impose penalties for non-participation, aiming to enhance choice and access to health insurance within Idaho. The board members will have diverse expertise in health care and insurance, appointed by the governor and subject to legislative confirmation, and the exchange is authorized to collect fees from participants and enter into contracts to fulfill its purpose, while also being able to rely on work from other state agencies without superseding their statutory duties.