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ID H0289
Bill
Status
3/12/2013
Primary Sponsor
Health and Welfare Committee
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AI Summary
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Health insurance carriers offering bronze, silver, gold, or platinum plans in PPACA exchanges must also offer at least one comparable free-market plan outside the exchange at 70% or less of the lowest exchange plan cost for each metallic level.
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Free-market plans must use minimum benefits coverage as set by the Idaho Department of Insurance on January 1, 2010, but may include children up to age 26, allow up to a 6-month waiting period for pre-existing conditions, and offer additional coverage options for extra premiums.
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Individuals may use health savings accounts (26 U.S.C. section 223) or Idaho medical savings accounts (section 63-3022K) to pay premiums and health care expenses without restrictions, additional fees, or penalties.
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Plan advertisements must clearly disclose that purchasers may lose PPACA tax credits and may owe taxes for purchasing a nonqualified plan.
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Insurers failing to comply with these requirements within 90 days of notice face license suspension or revocation and administrative penalties up to $1,000 per violation; the Department of Insurance shall promulgate necessary rules.
Legislative Description
Adds to existing law to provide for free-market health plans to be offered as an alternative to plans offered in an exchange, to provide for the terms of free-market health plans, to provide that individuals with a health savings account or medical savings account may use such accounts to pay premiums, to provide for enforcement and penalties and to provide for rulemaking authority.
FREE-MARKET HEALTH PLANS
Last Action
Reported Printed and Referred to Business
3/13/2013