OK HB1512

Oklahoma Insurance Commissioner has authority to implement, establish, create, administer, or operate a health insurance exchange and apply to the U.S. Secretary of Health and Human Services for a waiver under Section 1332 of the Patient Protection and Affordable Care Act.

"Exchange" is defined as a state, federal, or partnership exchange or marketplace operating in Oklahoma under the Affordable Care Act.

Creates the State-based Exchange Revolving Fund within the State Treasury for the Insurance Department to fund creation, implementation, administration, and operation of the state-based exchange.

All monies collected by the Insurance Commissioner related to the state-based exchange, including user fees, shall be deposited into the revolving fund and shall not lapse, be transferred to other state funds, or be redistributed unless otherwise specified under federal funding.

Becomes effective July 1, 2025, with an emergency clause allowing immediate effect upon passage and approval.