Establish a reinsurance program

Summary

The bill directs the state superintendent of insurance to set up a reinsurance fund that helps health insurers cover expensive claims, aiming to keep premiums lower. Funding comes from federal waiver payments and a 1% annual assessment on insurers' gross premiums. The program pays a share of costs above a $30,000 threshold up to a $250,000 cap, with rates adjustable each year.

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