NC H115

Establishes the North Carolina Health Benefit Exchange Authority as a nonprofit entity to create and operate separate Individual and SHOP (Small Business Health Options Program) exchanges for purchasing qualified health plans beginning January 1, 2014.

Creates a 14-member Board of Directors appointed by the General Assembly and Governor, plus two ex officio members from the Commissioner of Insurance and Director of Medical Assistance, with authority to hire an Executive Director and adopt operational policies.

Requires the Exchange Authority to certify health benefit plans as "Qualified Health Plans" if they meet federal requirements including essential health benefits coverage, approval by the Department of Insurance, and compliance with cost-sharing limits, while prohibiting premium price controls or exclusions based on plan type.

Funds the Exchange Authority through the North Carolina Health Insurance Risk Pool beginning in 2014, supplemented by user fees, federal grants, and advertising revenue, with the authority becoming self-sustaining by January 1, 2015.

Preserves state regulatory authority by requiring all participating insurers to comply with North Carolina insurance laws and regulations, and automatically repeals the law if the Affordable Care Act or its funding is invalidated.