Establishes a reinsurance program in Ohio to mitigate high-risk health insurance costs.

The bill creates a reinsurance program in Ohio to help health plan issuers manage high-risk costs. The program sets an attachment point of $30,000, an 80% coinsurance rate, and a $250,000 cap. The superintendent of insurance can adjust these parameters annually based on available funds. The program will use funds from the Ohio reinsurance fund, which includes federal innovation waiver funds and additional federal funds. The superintendent must apply for a federal innovation waiver to implement the program.

Establishes a reinsurance program in Ohio to mitigate high-risk health insurance costs.

The bill creates a reinsurance program in Ohio to help health plan issuers manage high-risk costs. The program sets an attachment point of $30,000, an 80% coinsurance rate, and a $250,000 cap. The superintendent of insurance can adjust these parameters annually based on available funds. The program will use funds from the Ohio reinsurance fund, which includes federal innovation waiver funds and additional federal funds. The superintendent must apply for a federal innovation waiver to implement the program.