HP1237, LD 1792, item 1, An Act To Improve Market Stability for Maine Residents Purchasing Individual Health Insurance Coverage

An Act To Improve Market Stability for Maine Residents Purchasing Individual Health Insurance Coverage

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 24-A MRSA §3953, sub-§1, ¶A, as enacted by PL 2017, c. 124, §1, is amended to read:

A. If Notwithstanding the requirements of this chapter, if the board proposes a revised plan of operation developed in accordance with paragraph D that calls for the resumption of operations earlier than December 31, 2023 and the superintendent determines that the revised plan is likely to provide significant benefit to the State's health insurance market, the superintendent may order the association to resume operations in accordance with the revised plan. This paragraph applies only if:

(1) An innovation waiver under Section 1332 of the federal Affordable Care Act as contemplated by paragraphs B and C is granted; or

(2) The federal Affordable Care Act is repealed or amended in a manner that makes the granting of an innovation waiver unnecessary or inapplicable.

Sec. 2. 24-A MRSA §3953, sub-§1, ¶D is enacted to read:

D. Before proposing a revised plan of operation pursuant to paragraph A that calls for the resumption of operations earlier than December 31, 2023, the board shall study the revised plan of operation, which may include changes that exceed the statutory requirements of this chapter, as long as no proposed changes are made that increase the assessments set forth in section 3957.

SUMMARY

This bill directs the Board of Directors of the Maine Guaranteed Access Reinsurance Association, before proposing a revised plan of operation to resume operations before December 31, 2023, to study and propose a revised plan of operation that may include changes to current law as long as proposed changes are not made that increase the assessments set forth in the Maine Revised Statutes, Title 24-A, section 3957.

HP1237 LD 1792	Session - 128th Maine Legislature		LR 2788 Item 1
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