HB1647: Commissioner of Insurance; authorize to implement a state insurance exchange, authorize income tax deductions and insurance premium tax credit.

Legislative Summary

An Act To Authorize The Commissioner Of Insurance To Establish Any Program Or Promulgate Any Rule, Policy, Guideline Or Plan Or To Change Any Program, Rule, Policy Or Guideline To Implement, Establish, Create, Administer Or Otherwise Operate An Exchange, To Apply For, Accept Or Expend Federal Monies Related To The Creation, Implementation Or Operation Of An Exchange, To Establish Any Advisory Board Or Committee As Necessary For Providing Recommendations On The Creation, Implementation Or Operation Of An Exchange, To Use The Services And Funds Of The Comprehensive Health Insurance Risk Pool Association And The Comprehensive Health Insurance Risk Pool Board To Fulfill The Purposes Of This Section, And To Engage Actuarial And Other Assistance As Necessary To Carry Out The Duties Of The Department; To Create The Mississippi Health Insurance State Exchange Trust Fund, And To Authorize The Commissioner Of Insurance To Expend Monies From This Fund For The Payment Of Expenses Incurred In The Creation, Implementation Or Operation Of An Exchange; To Provide That The Amount To Be Contributed Annually To The Fund Shall Be Fixed Each Year By The Commissioner As A Percentage Of Fees Assessed On The Gross Premiums Charged On All Policies Sold On The Exchange, Which Percentage Shall Not Be More Than 3.5%, Unless Otherwise Approved By The Legislature; To Provide That User Fees Shall Be Collected Directly By The Exchange On All Policies Sold And Remitted To The Health Insurance State Exchange Fund On A Monthly Basis; To Provide That The Comprehensive Health Insurance Risk Pool Association Shall Have The Authority To Develop And Fund An Online Portal That Shall Be Available To All Mississippians To Assist Consumers In Selection Of A Health Plan; To Amend Sections 83-9-203 And 83-9-205, Mississippi Code Of 1972, To Conform To The Provisions Of This Act; And For Related Purposes.