ND HB1106

Creates a nonprofit reinsurance association of North Dakota to provide an invisible reinsurance pool for the individual health insurance market, contingent upon federal approval of an innovation waiver under the Affordable Care Act or repeal of the ACA.

Establishes that insurers offering group health benefit plans must participate in the association and pay quarterly assessments based on earned group health benefit plan premiums, with unpaid assessments accruing 12% annual interest.

Provides reinsurance coverage at 75% for individual health insurance claims totaling $100,000 to $1,000,000 per plan year for nongrandfathered individual health benefit plans.

Authorizes the Bank of North Dakota to extend a line of credit not exceeding $25 million to the association for reimbursements to member insurers.

Allows insurers a tax credit against insurance premium taxes for assessments paid to the reinsurance association and requires legislative management to study ways to reduce health insurance premium rate increases by December 31, 2021.