Bill > SF720

This bill establishes the Minnesota premium security plan as a state-based reinsurance program administered by the Minnesota Comprehensive Health Association. The plan is designed to protect consumers by mitigating the impact of high-risk individuals on rates in the individual health insurance market. The bill defines key terms, outlines the duties of the commissioner and the board of the association, and provides parameters for the reinsurance program, including attachment points, reinsurance caps, and coinsurance rates. The bill also requires accounting, reporting, and auditing of the program, and authorizes the commissioner to apply for a federal innovation waiver to maximize federal funding for the program. Finally, the bill includes funding provisions, such as transfers from the health care access fund and the budget reserve account.

Budget and Finance, Business and Industry, Health and Social Services

https://www.revisor.mn.gov/bills/bill.php?b=Senate&f=SF0720&ssn=0&y=2017