MI SB0637

Department of Insurance shall apply to the U.S. Secretary of Health and Human Services for a Section 1332 state innovation waiver under the Affordable Care Act to waive applicable provisions and establish a reinsurance program.

Department must make draft waiver application available for 30-day public review and comment period within 180 days of the bill's effective date and provide it to relevant standing committees in both chambers.

Department may amend the waiver application as necessary to implement the Michigan Health Insurance Exchange Act.

Upon approval of the innovation waiver by HHS, the department shall implement a reinsurance program for plan years beginning after program implementation.

Department must report to legislative appropriations committees regarding funding needed for the reinsurance program and potential sources, including general fund appropriations.