Bill Summary: Raised Bill No. 210

• Establishes a state-operated reinsurance program for the individual health insurance market, funded up to $21.21 million annually, subject to federal Section 1332 waiver approval, with the Health Reinsurance Association administering the program starting plan year 2026.

• Expands the Office of Health Strategy's responsibilities to set annual health care cost growth benchmarks and primary care spending targets for hospitals, provider entities, and payers, with benchmarks reviewed every five years and submitted to the insurance committee if changes exceed 0.5%.

• Requires payers, hospitals, and provider entities to report health care expenditure and quality data annually to the Office of Health Strategy and participate in informational public hearings regarding cost growth and quality performance.

• Mandates that hospital-based facilities located off-site from a hospital campus submit their own national provider identifier and federal tax identification number with all claims for reimbursement beginning January 1, 2025.

• Authorizes the Insurance Commissioner to adopt regulations to implement the site-of-service billing requirements for hospital-based facilities.