DE HB193

Establishes the Delaware Health Insurance Individual Market Stabilization Reinsurance Program to be administered by the Delaware Health Care Commission and provide reinsurance to carriers offering individual health benefit plans in Delaware.

Requires the reinsurance program to comply with requirements of a waiver approved under Section 1332 of the Affordable Care Act and be funded by federal pass-through funds, federal reinsurance funds, and a state assessment.

Imposes a 2.75% annual assessment on all carriers subject to the program based on premium tax liability, with payment due to the Department of Insurance by March 1 each year; reduces to 1% if the federal Health Insurance Providers Fee is reinstated.

Grants the Delaware Health Care Commission authority to promulgate regulations establishing procedures for asset handling, annual reporting, claim submission, reinsurance parameters (attachment points, coinsurance rates and caps), and contractor selection.

Terminates the state assessment if Delaware's Section 1332 waiver is invalidated, revoked, or expires, and caps state reserves at no more than 5 years of operating funds with excess collections triggering a waiver of the following year's assessment.