Washington HB2626 increases the insurance premium tax on certain health insurance providers.

HB2626 amends Washington's insurance premium tax for certain health insurance providers. Beginning March 1, 2028, the tax rate increases to one percent of the total premiums and prepayments for health care services collected or received by the taxpayer during the preceding calendar year. The tax applies to health maintenance organizations, health care service contractors, and self-funded multiple employer welfare arrangements. The bill also outlines prepayment requirements and exceptions, including for Medicare and certain state-provided services. The changes take effect July 1, 2026.

Washington HB2626 increases the insurance premium tax on certain health insurance providers.

HB2626 amends Washington's insurance premium tax for certain health insurance providers. Beginning March 1, 2028, the tax rate increases to one percent of the total premiums and prepayments for health care services collected or received by the taxpayer during the preceding calendar year. The tax applies to health maintenance organizations, health care service contractors, and self-funded multiple employer welfare arrangements. The bill also outlines prepayment requirements and exceptions, including for Medicare and certain state-provided services. The changes take effect July 1, 2026.