Alaska Health Benefit Exchange Summary

• Establishes the Alaska Health Benefit Exchange as a public corporation within the Department of Commerce, Community, and Economic Development to facilitate purchase and sale of qualified health plans in individual and small group markets.

• Creates an 8-member Alaska Health Benefit Exchange Board (6 governor-appointed members representing small business, insurance, health plan finance, administration, actuarial expertise, and consumer interests; 2 ex-officio members) to manage the exchange.

• Requires the exchange to operate separate marketplaces for individual and small business health plans, provide enrollment periods, maintain an Internet website with comparative plan information, and establish a toll-free hotline for assistance.

• Defines qualified health plans as those meeting federal Patient Protection and Affordable Care Act standards with required coverage levels (bronze, silver, gold, or catastrophic), cost-sharing limits, and insurer compliance with state licensing and solvency requirements.

• Takes effect July 1, 2012, with transition provisions allowing initial board member terms of varying lengths and permitting the board and director of insurance to adopt necessary implementing regulations.