HB 374 Summary

• Establishes the Alaska comprehensive health insurance fund in the general fund, fed by revenue from insurance-related assessments and fees, with net proceeds available for appropriations to fund a reinsurance program for high-risk residents.

• Authorizes the director to establish a reinsurance program covering high-risk residents and specifying covered conditions eligible for payment through regulation.

• Redefines "residents who are high risks" to include those rejected for medical reasons, those with restrictive riders reducing coverage, and those meeting other director-adopted regulatory requirements consistent with the chapter.

• Permits the director to apply for a federal waiver under 42 U.S.C. 18052 of Affordable Care Act provisions for plan years beginning January 1, 2017 or later, and implement approved state plans accordingly.

• Requires the plan administrator to inform individuals with disabilities eligible for federal Medicare benefits (42 U.S.C. 1395-1395b-10) about applying for federal benefits when referred to a state plan.