CA AB1208

Requires the California Health Benefit Exchange (Covered California) to annually update its proposed program design for cost-sharing reduction subsidies that help low- and middle-income Californians afford health care coverage.

Mandates that benefit designs maximize the number of low- and middle-income Californians with zero deductibles, including subsidies for copayments, deductibles, and maximum out-of-pocket limits.

Provides that cost-sharing subsidies shall continue through January 1, 2029, if federal premium subsidies remain at the 2023 coverage year level.

Suspends the premium assistance subsidy program in any year when federal premium subsidies equal or exceed those provided in the 2023 program year.

Establishes that the Health Care Affordability Reserve Fund can be used for cashflow loans to the General Fund and must be appropriated by the Legislature for health care affordability programs operated by the Exchange.