MS HB605

Requires the Mississippi Commissioner of Insurance to establish and implement a state health insurance exchange, changing the existing permissive "may" authority to a mandatory "shall" directive effective upon the act's passage

Transfers all funds held by the Comprehensive Health Insurance Risk Pool Association to the Mississippi Health Insurance State Exchange Trust Fund on June 30, 2026

Authorizes the Commissioner to apply for and accept federal money, establish advisory boards, promulgate rules, and engage actuarial services without standard procurement requirements to create and operate the exchange

Funds the exchange through user fees of up to 3.5% of gross premiums on all policies sold through the exchange, with excess amounts requiring legislative approval

Establishes that the Comprehensive Health Insurance Risk Pool Association shall develop an online portal to help Mississippi consumers compare health plans, including provider networks, drug coverage, and pricing information