HB 1614 Summary

• Authorizes the Commissioner of Insurance to establish, implement, operate, and administer a health insurance exchange under the Affordable Care Act, including the ability to apply for and accept federal funding.

• Requires all life, health, and accident insurance companies and health maintenance organizations operating in Mississippi to contribute annually to a Health Insurance State Exchange Fund, with total annual contributions capped at $1,500,000.

• Establishes that the Comprehensive Health Insurance Risk Pool Association can develop an online portal to help consumers compare health plans, providers, drug coverage, and pricing.

• Amends Section 83-5-72 to redirect the Health Insurance Department Fund to become the Health Insurance State Exchange Fund, changing its purpose from general departmental expenses to exchange-related costs.

• Takes effect July 1, 2024, and brings forward multiple sections of existing insurance code related to the Comprehensive Health Insurance Risk Pool Association for potential amendment.