Nonprofit health insurance carriers in the state must be committed to a nonprofit corporate structure, and provide affordable and accessible health insurance. By July 2021, nonpofitnonprofit health insurance carriers will have to submit a report with the amount their financial surplus, to be determined by this commissioner if this is excessive. Excesses shall be placed in the Nonprofit Health Carrier Community Benefit Fund, created by this bill. Expenditures from the fund must be exclusively used for:
- Subsidies for individuals purchasing individual market insurance coverage who are not eligible for federal insurance subsidies; and
- Foundational public health services.
