Reforms the healthcare cost benchmark in Massachusetts to align with the historical growth rate of the state's gross product.

The bill amends the healthcare cost benchmark in Massachusetts to be equal to the historical growth rate in gross state product for calendar years 2023 and beyond. It defines the historical growth rate as the long-run average annual growth rate of the state's gross product over the most recent ten-year period. The Secretary of Administration and Finance must calculate this rate and report the methodology and results to the House and Senate Ways and Means Committees. This rate is also provided to the Health Policy Commission and made public by the Executive Office of Administration and Finance.

Reforms the healthcare cost benchmark in Massachusetts to align with the historical growth rate of the state's gross product.

The bill amends the healthcare cost benchmark in Massachusetts to be equal to the historical growth rate in gross state product for calendar years 2023 and beyond. It defines the historical growth rate as the long-run average annual growth rate of the state's gross product over the most recent ten-year period. The Secretary of Administration and Finance must calculate this rate and report the methodology and results to the House and Senate Ways and Means Committees. This rate is also provided to the Health Policy Commission and made public by the Executive Office of Administration and Finance.