Redirects health insurer reserves to support health care safety net programs in Massachusetts.

This bill proposes to redirect excessive health insurer reserves to support health care safety net programs in Massachusetts. It establishes an assessment on health insurance carriers based on their net worth surplus exceeding 550% of risk-based capital. The collected funds will be transferred to the Health Safety Net Trust Fund and the Medicaid Stabilization Trust Fund, aiming to prevent reductions in access to care for MassHealth beneficiaries and reimbursements for healthcare services.

Redirects health insurer reserves to support health care safety net programs in Massachusetts.

This bill proposes to redirect excessive health insurer reserves to support health care safety net programs in Massachusetts. It establishes an assessment on health insurance carriers based on their net worth surplus exceeding 550% of risk-based capital. The collected funds will be transferred to the Health Safety Net Trust Fund and the Medicaid Stabilization Trust Fund, aiming to prevent reductions in access to care for MassHealth beneficiaries and reimbursements for healthcare services.