Increases insurance premium taxes to fund health insurance premium assistance.
This bill amends existing laws to increase taxes on insurance premiums, specifically targeting health maintenance organizations, health care service contractors, and self-funded multiple employer welfare arrangements. The tax rate is set at 2.75 percent for calendar year 2026 and 2.0 percent for subsequent years. The collected funds are directed to the state health care affordability account, which supports the premium assistance and cost-sharing reduction program.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.