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2012 SESSION

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SB 615 Health Benefit Exchange Authority; created, report.

Introduced by: Barbara A. Favola | Ralph S. Northam | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia Health Benefits Exchange.  Creates the Virginia Health Benefits Exchange Authority as a political subdivision of the Commonwealth, as recommended by the Virginia Health Reform Initiative Advisory Council. The Authority is charged with establishing and operating health benefit exchanges for qualified individuals and for small businesses, collectively referred to as the Exchange. The measure also provides for the Authority to perform, or provide for the performance by other state agencies of, duties associated with the operation of the Exchange as required by the federal Patient Protection and Affordable Care Act, and implements the intent set forth in Chapter 823 of the Acts of Assembly of 2011 that Virginia create and operate its own health benefits exchange to preserve and enhance competition in the health insurance market. The Authority is authorized to enter agreements with the State Corporation Commission and Departments of Medical Assistance Services, Health, and Social Services regarding the performance of duties related to the conduct of the Exchange. The Exchange will be funded by assessment fees on all health carriers offering plans in the Exchange. The measure provides that mandated health benefits applicable to plans offered outside the Exchange will also apply to plans offered through the Exchange.


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