ND HB1087

Establishes the reinsurance association of North Dakota as a nonprofit entity to provide reinsurance for individual health benefit plans, contingent on federal innovation waiver approval under the Affordable Care Act section 1332.

Requires insurers offering group health benefit plans to participate in the association and pay quarterly assessments based on earned group health benefit plan premiums, with exemptions for insurers writing less than $100,000 annually.

Provides 75 percent reinsurance coverage through the association for individual health benefit plan claims totaling $100,000 to $1,000,000 per plan year.

Authorizes the association to access a $25 million line of credit from the Bank of North Dakota and permits use of federal funding for third-party reinsurance procurement.

Appropriates $200,000 from the reinsurance association for a study during 2021-22 on establishing a combined invisible reinsurance pool for individual and small group health insurance markets, effective through June 30, 2023.