CA SB944

Requires the California Health Benefit Exchange (Covered California) to implement health care affordability assistance options that reduce cost-sharing including copays, coinsurance, and maximum out-of-pocket costs if enhanced federal premium subsidies are available for 2023 and 2024.

Mandates the Exchange eliminate deductibles for all benefits to the extent feasible and adopt standard benefit designs consistent with these affordability specifications.

Establishes that the financial assistance program shall provide subsidies to California residents with household incomes at or below 600 percent of the federal poverty level if funded through legislative appropriation.

Creates the Health Care Affordability Reserve Fund and transfers $333,439,000 from the General Fund to support health care affordability programs operated by the Exchange.

Requires the Exchange to adopt annual program designs by board resolution with approval from the Director of Finance, allowing the Legislature to specify how appropriated funds are distributed across income ranges.