HB 5485 Summary

• Requires the joint standing committee on insurance to select a benchmark plan by May 8, 2012, for establishing standards for qualified health plans, subject to General Assembly approval or rejection by majority vote in each house.

• Eliminates the proposed basic health program option and specifies the exchange shall make qualified health plans available to individuals with household incomes between 133% and 200% of federal poverty level who are not eligible for Medicaid and are under age 65.

• Removes provisions requiring evaluation of a basic health program with the SustiNet Health Care Cabinet and simplifies the exchange's authorized powers by eliminating the related subsection.

• Establishes a single exchange for both qualified individuals and qualified employers with separate markets, and requires the exchange to provide standardized comparative information and assist with enrollment.

• Changes reporting deadlines from January 1, 2012 (annually until January 1, 2014) to January 1, 2013 and January 1, 2014, and removes questions about establishing separate exchanges or merging markets from required reporting.