HB2073 mandates nonprofit health carriers to contribute surplus funds to a state health care affordability account.

HB2073 requires nonprofit health carriers to submit their surplus amounts to the commissioner annually starting July 1, 2026. If a carrier's surplus exceeds 600 percent of its risk-based capital requirements, the commissioner must determine the surplus is excessive. The carrier can request a hearing to potentially reduce the required payment if it would cause financial impairment. The carrier must pay three percent of the excessive surplus to the state health care affordability account to fund a premium assistance program. The act takes effect January 1, 2026.

HB2073 mandates nonprofit health carriers to contribute surplus funds to a state health care affordability account.

HB2073 requires nonprofit health carriers to submit their surplus amounts to the commissioner annually starting July 1, 2026. If a carrier's surplus exceeds 600 percent of its risk-based capital requirements, the commissioner must determine the surplus is excessive. The carrier can request a hearing to potentially reduce the required payment if it would cause financial impairment. The carrier must pay three percent of the excessive surplus to the state health care affordability account to fund a premium assistance program. The act takes effect January 1, 2026.