Virginia Senate Bill 845 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 15 2018 - 25% progression, died in committee
Action: 2018-11-30 - Left in Finance
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Introduced) [HTML]

Premium Security Plan. Creates the Premium Security Plan (the Plan), a state-based reinsurance program to stabilize premiums for individual health benefit plans sold on the exchange. The measure provides that moneys provided from general fund appropriations and federal funding provided by a state innovation waiver under §1332 of the Affordable Care Act would be used to partially reimburse insurers for high-cost claims by initially covering 80 percent of an enrolled individual's annual claims costs between $50,000 and $250,000. The Plan will be overseen by the Virginia Health Reinsurance Association, created by this measure. An enactment clause provides that the measure, other than the requirement that the Commissioner of Insurance apply for the state innovation waiver, will become effective 30 days after notice of approval of the waiver request.

Premium Security Plan; created, a state-based reinsurance program.

Sen. Siobhan Dunnavant [R]

2018-02-12 - Senate - Senate: Continued to 2019 in Finance (16-Y 0-N) (Y: 16 N: 0 NV: 0 Abs: 0) [PASS]

Date	Chamber	Action
2018-11-30	Senate	Left in Finance
2018-02-12	Senate	Continued to 2019 in Finance (16-Y 0-N)
2018-01-15	Senate	Referred to Committee on Finance
2018-01-15	Senate	Presented and ordered printed 18104697D

Chapter	Article	Section	Citation Type	Statute Text
2	2	3705.5	(n/a)	See Bill Text
38	2	3461	(n/a)	See Bill Text
38	2	3473	(n/a)	See Bill Text
38	2	4214	(n/a)	See Bill Text
38	2	4319	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?191+sum+SB845
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?191+ful+SB845+hil
Roll Call	https://lis.virginia.gov/cgi-bin/legp604.exe?191+vot+S05C0241+SB0845