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WA HB2745
Bill
Status
Introduced
2/28/2026
Primary Sponsor
Lisa Parshley
Click for details
AI Summary
- Insurance premium tax rate increases temporarily from 2% to 2.75% for calendar year 2026, then returns to 2% for 2027 and thereafter
- Applies to authorized insurers (except title insurers and captive insurers), health maintenance organizations, health care service contractors, and self-funded multiple employer welfare arrangements
- Revenue exceeding the base 2% rate must be deposited in the state health care affordability account to fund premium assistance and cost-sharing reduction programs under RCW 43.71.110
- Insurers are prohibited from passing the additional 0.75% tax increase to enrollees through premiums, rates, or plan design, unless the insurance commissioner determines it would create significant risk of carrier insolvency or consumer harm
- Amends RCW 48.14.020 and 48.14.0201 governing premium tax requirements
Legislative Description
Increasing temporarily insurance premium taxes on insurers to fund health insurance premium assistance.
Last Action
First reading, referred to Finance.
2/28/2026
Committee Referrals
Finance2/28/2026
Full Bill Text
No bill text available