HB 1647 Summary

• Authorizes the Commissioner of Insurance to establish programs, rules, and policies to create and operate a health insurance exchange in Mississippi under the Affordable Care Act.

• Creates the Mississippi Health Insurance State Exchange Trust Fund, funded by user fees not exceeding 3.5% of gross premiums on policies sold through the exchange, collected monthly and deposited to the fund.

• Grants the Commissioner authority to apply for federal funding, establish advisory boards, use Comprehensive Health Insurance Risk Pool Association resources, and engage actuarial services without standard procurement requirements.

• Directs the Comprehensive Health Insurance Risk Pool Association to develop and operate an online portal for all Mississippians to compare health plans, providers, and drug coverage information.

• Amends existing insurance code sections to establish the legislature's purpose of creating a mechanism to assist the Commissioner with exchange creation, implementation, and operation.